SGX SMID-cap firms repurchase $5.6m in shares in June

Food Empire led activity with $2.21m repurchased at depressed prices.

Seven SGX-listed SMID-cap companies repurchased approximately $5.6m worth of shares across 33 open-market transactions in June, UOB said, describing the activity as a 'buyback wave'.

Separately, UltraGreen.ai bought back an additional $1.36m (US$1.05m) of shares via its US dollar counter.

“The bulk of repurchasing occurred at prices well below levels at the beginning of the year, which we regard as higher conviction from management as they deploy their balance sheet at prices they consider cheap, accretive to shareholders and supportive of EPS,” UOB said.

According to SGX Group data, 57 primary-listed Singapore stocks repurchased $1.26bn worth of shares in the first five months of 2026, up from $930m in the same period of 2025 and $505m in early 2024. Straits Times Index (STI) constituents accounted for about $1.20bn of the total, whilst the most active non-STI counters included Hong Fok, The Hour Glass, Food Empire, Chuan Hup, CSE Global, and Hong Lai Huat.

UOB noted that Food Empire Holdings emerged as the most active buyer in June, repurchasing 930,000 shares for $2.21m across five trading days at an average price of $2.39 per share.

“A board willing to commit the largest dollar amount in our screening after its shares have de-rated is, in our view, signalling that the sell-off is sentiment-driven,” the report noted.

Valuetronics Holdings also maintained a steady pace of repurchases, acquiring 1.17 million shares for $1.28m over five trading days within a narrow price range of $1.078–S$1.107.

The consistent buying reflects confidence supported by the company's cash-rich balance sheet.

Pan-United Corporation bought back 280,000 shares valued at $420,000 as its share price softened from $1.51 to $1.44 during June.

“Management has been willing to add on weakness, and against a resilient Singapore construction-materials backdrop, we read the buyback as a confidence signal,” UOB noted.

UltraGreen.ai (UGAI SP) continued repurchasing shares shortly after listing its Singapore dollar counter (UGS SP) on 18 May 2026, buying back approximately $170,000 on its Singapore counter alongside US$1.05 million on its primary US dollar counter.

The company also announced the acquisition of Ihld Med Tech on 15 June, signalling continued capital deployment toward both shareholder returns and inorganic growth initiatives.

Amongst the remaining companies, Nanofilm Technologies recorded one of the more notable buyback programmes, repurchasing approximately $1.38m worth of shares.

Buying activity accelerated from 100,000 shares to 500,000 shares between 12 June and 23 June, followed by another 341,000 shares on 26 June, with purchases concentrated between $1.16 and $1.26 per share.

Smaller buyback programmes were also undertaken by Winking Studios, which repurchased around $80,000 worth of shares, and Dezign Format, which bought back approximately $70,000.

Whilst modest in value, UOB said such buybacks can have a meaningful impact on free float for smaller-cap companies.

The trend extended beyond the SMID-cap segment, with Venture Corporation repurchasing approximately $1.5m worth of shares at around $17.35 per share.