Buyers active, but sellers are absent
21 firms record 36 purchases worth S$17.3m; buyback activity up as 13 firms post 50 repurchases worth S$11.9m, reports ROBERT HALILI
BUYERS remained active while sellers were absent based on director filings on the Singapore Exchange in the first week of September. A total of 21 companies recorded 36 purchases worth S$17.3 million. The figures were up from the previous week's 19 firms, 32 purchases, and S$4.7 million. Aside from directors, the buyback activity among listed firms rose with 13 companies which posted 50 repurchases worth S$11.9 million. The number of trades and value were up from the previous week's 38 transactions worth S$9 million.
There were several significant buyback and director purchases last week. Global Invacom and KTL Global Ltd resumed buying back in contrasting scenarios. Global Invacom recorded its first buybacks since October 2013 after its share price fell by 17 per cent while KTL resumed buying back after the stock rebounded by 18 per cent.
On the directors' side, there were rare insider buys in UOL Group, GRP Ltd, Health Management, Koyo International, and ITE Electric.
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