Director buying stays active in absence of sellers
Buyback activity falls as 17 companies post 48 repurchases worth S$7.3 million, compared to previous week's 18 firms, 54 trades and S$16.3 million
BUYERS remained active while sellers were absent last week based on filings on the exchange in the fourth week of August. A total of 28 companies recorded 57 purchases worth S$1.81 million, which were consistent with the previous week's 28 firms, 51 purchases and S$2.31 million. Meanwhile, the absence of sellers last week was not surprising as there were only three companies that recorded five disposals worth S$0.76 million in the previous week.
While the buying by directors remained high, the buyback activity fell with 17 companies that posted 48 repurchases worth S$7.3 million. The figures were down from the previous week's 18 firms, 54 trades and S$16.3 million.
With no sales by directors, the spotlight was on the buying last week with buybacks and insider buys by two executive directors in Soup Restaurant Group. Meanwhile, there were buybacks in EnGro Corporation and Global Palm Resources following the fall in their share prices. Lastly, there were rare insider buys in Pavillon Holdings, Plato Capital Limited, Hiap Seng Engineering an…
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
Companies & Markets
Honda to invest US$808 million in Brazil by 2030
US: Nasdaq, S&P tumble as Netflix, chip stocks drag
Europe: L’Oreal gains cap third week of declines
Telegram messaging service to allow Tether stablecoin payments
Hong Kong regulator to probe PwC auditing role over Evergrande
US: S&P, Dow open flat as Middle East jitters ease, Netflix weighs on Nasdaq