Keppel Corporation buys back S$26.7m in share value

THE five trading sessions spanning Jan 26 to Feb 1 saw the Straits Times Index (STI) decline 0.7 per cent. This brought its 2018 total return through to Feb 1 to 4.3 per cent, compared to an average 3.8 per cent total return for the benchmarks of Japan, Hong Kong and Australia.

There were two stocks that conducted share buybacks over the past five sessions, with a total consideration of S$26.8 million. The upward surge in weekly total consideration was attributed to Keppel Corp buying back just over 3 million shares for a consideration of S$26.7 million.

Although the current 12-month buyback mandate for Keppel Corp dates back to April 21, 2017, the group only started carrying out the mandate on Jan 26. Keppel Corp shares rallied 18.0 per cent in January.