Share buybacks fall as stock prices move up

Singapore

SHARE buybacks in March amounted to more than 15.1 million units worth S$29.1 million by 20 companies, bringing the year-to-date repurchase by companies to S$82 million.

The buyback consideration in March 2017 was down 57 per cent from S$68 million a year ago, said the Singapore Exchange (SGX) in a market update on Monday, adding that of the S$68 million consideration in March 2016, S$56 million was contributed by Oversea-Chinese Banking Corp (OCBC), M1 and Oxley Holdings.

On a month-on-month basis, the share buybacks were also 12 per cent lower than February'…