Buyback value in 2014 more than double

BUYBACK activity rebounded in 2014 with 78 companies recording 1,124 filings worth S$916 million - the value more than double the S$451 million in 2013, when 69 firms made 1,068 filings. The number of companies and filings in 2014 were not far off from the yearly averages of 84 firms and 1,293 filings from 2008 to 2013. Turnover was up sharply from the yearly average of S$630 million from 2008 to 2013.

The fourth quarter of 2014 was the most active period with 48 companies recording 490 filings worth S$493 million. The figures were sharply up from the quarterly averages of 29 firms, 245 filings and S$141 million from the first to third quarters. Not surprisingly, the most active month was December with 33 companies posting 208 filings worth S$262 million. The buybacks in December were sharply up from the monthly averages of 17 firms, 92 filings and S$59 million from January to November 2014. The huge jump in the buyback activity in the fourth quarter, particularly in December, was due mainly to the sharp fall in share prices in the latter part of the year.

Top 10 gainers, losers