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Share buybacks not for all companies
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Tay Peck Gek
Published Tue, Mar 24, 2020 · 09:50 PM
CORPORATES listed in Singapore are busy repurchasing their shares, trying to scoop them up on the cheap or shore up declining share prices in the current market sell-off.
Fifty-three companies blew S$448 million on share buybacks in just the first three weeks of March, according to Singapore Exchange (SGX) data. This amount was the highest since the last peak of S$544 million in August 2015.
In comparison, only 17 companies bought back shares in February. They spent just S$67.9 million.
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