| The SGX says 69 SGX primary-listed companies bought back shares in 2023 by way of market acquisitions with a combined consideration of S$743 million. This was lower than the $1.692 billion worth of shares bought back in 2022 by 86 primary-listed companies.  Below is a shortlist, focusing on companies that bought back more than $1 million worth of their shares in 2023. Those highlighted in blue bought back more than $10 million. OCBC topped the chart with $206 million spent -- yes, $206 million! We added a column to reflect the 3 Jan 2024 closing stock prices, so you can see how they compared with the average buyback price. We have two observations:
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For the SGX commentary on the 2023 buybacks, as well as its full list of 69 companies that bought back their shares in 2023, click here.
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Stock |
# Shares Bought in 2023 Calendar Year |
Total Buyback |
Avg Ind Price Paid |
3 Jan 2024 price |
|
OVERSEA-CHINESE BANKING CORPORATION |
16,410,000 |
205,493,510 |
$12.522 |
$12.82 |
|
UNITED OVERSEAS BANK |
5,100,000 |
143,849,291 |
$28.206 |
$28.21 |
|
CAPITALAND INVESTMENT |
21,394,100 |
64,447,635 |
$3.012 |
$3.07 |
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SEMBCORP |
13,318,500 |
60,993,203 |
$4.580 |
$5.34 |
|
YANGZIJIANG FINANCIAL |
93,095,800 |
32,237,142 |
$0.346 |
$0.32 |
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SINGAPORE TELECOM |
10,810,017 |
25,872,349 |
$2.393 |
$2.43 |
|
OLAM GROUP |
20,810,000 |
24,871,743 |
$1.195 |
$1.01 |
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SINGAPORE TECHNOLOGIES ENGINEERING |
5,700,000 |
20,848,455 |
$3.658 |
$3.82 |
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STARHUB |
16,729,700 |
17,605,746 |
$1.052 |
$1.11 |
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NANOFILM TECHNOLOGIES |
11,081,900 |
16,701,115 |
$1.507 |
$0.915 |
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THE HOUR GLASS |
6,377,500 |
11,268,357 |
$1.767 |
$1.64 |
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UOB-KAY HIAN HOLDINGS |
7,549,000 |
10,507,341 |
$1.392 |
$1.33 |
|
10,101,300 |
10,197,961 |
$1.010 |
$1.14 | |
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BEST WORLD INTERNATIONAL |
5,674,800 |
10,007,919 |
$1.764 |
$1.71 |
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VENTURE CORPORATION |
620,000 |
7,920,544 |
$12.775 |
$13.64 |
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SINGAPORE EXCHANGE |
705,000 |
6,210,894 |
$8.810 |
$9.75 |
|
FIRST RESOURCES |
4,206,700 |
5,888,610 |
$1.400 |
$1.44 |
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RAFFLES MEDICAL |
5,400,000 |
5,698,809 |
$1.055 |
$1.08 |
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HRNETGROUP |
7,035,100 |
5,432,688 |
$0.772 |
$0.705 |
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GLOBAL INVESTMENTS |
42,660,800 |
4,937,710 |
$0.116 |
$0.118 |
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OUE |
3,577,200 |
3,935,947 |
$1.100 |
$1.17 |
|
OXLEY HOLDINGS |
32,138,300 |
3,827,671 |
$0.119 |
$0.10 |
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6,533,600 |
3,533,419 |
$0.541 |
$0.615 | |
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SIA ENGINEERING COMPANY |
1,472,100 |
3,516,329 |
$2.389 |
$2.36 |
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THE STRAITS TRADING CO |
1,584,900 |
3,085,293 |
$1.947 |
$1.81 |
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SEATRIUM |
21,200,000 |
2,832,237 |
$0.134 |
$0.115 |
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PSC CORP |
8,118,800 |
2,797,080 |
$0.345 |
$0.315 |
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ESR-LOGOS FUNDS MANAGEMENT (S) |
9,697,500 |
2,725,888 |
$0.281 |
$0.32 |
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10,300,200 |
2,710,486 |
$0.263 |
$0.34 | |
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6,391,100 |
2,596,778 |
$0.406 |
$0.40 | |
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SIN HENG HEAVY MACHINERY |
3,689,500 |
1,747,193 |
$0.474 |
$0.50 |
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KIMLY |
4,491,300 |
1,475,801 |
$0.329 |
$0.325 |
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PEC |
2,378,600 |
1,397,868 |
$0.588 |
$0.54 |
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PAN-UNITED CORPORATION |
3,488,900 |
1,379,416 |
$0.395 |
$0.375 |
|
1,248,200 |
1,373,593 |
$1.100 |
$1.40 | |
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EUROSPORTS GLOBAL |
6,512,000 |
1,230,287 |
$0.189 |
$0.17 |
|
1,958,200 |
1,205,911 |
$0.616 |
$0.61 |
* including stamp duties, clearing changes etc paid or payable for the shares
Source: SGX, Bloomberg, Refinitiv (Data as of 31 Dec 2023).
