Share buybacks hit 9 month high of $131.1m in May

DBS led the buyback spree after re-purchasing $65.68m worth of their shares.

Buyback considerations more than tripled to $133.1m in May from $35.1m the previous month with a total of 24 SGX-listed stocks reporting buybacks of about 39.1 million shares, according to SGX. The latest figure marks a nine-month high since August when total buybacks hit $245.4m.

Also read: Share buybacks plummeted 69.23% to $36m in April

There were 13 stocks that commenced new buyback mandates in the month of May, including DBS, OCBC, Sing Tech Engineering, China Sunshine Chemical Holdings, AEM Holdings, Japfa, Olam Int, Raffles Medical, Koufu, Jumbo, Cheung Woh Tech, Aspen (Group) Holdings & Trek 2000 Int.

DBS led the shopping spree with buybacks worth $65.68m, followed by OCBC with buybacks hitting $30.64m. This was followed by Best World, Keppel REIT, and ST Engineering with buybacks worth $7.77m, $5.14m, and $4.23m, respectively.