CapitaLand, DBS and OCBC led the buyback spree.
This chart from the Singapore Exchange (SGX) shows that the total buyback consideration in 2018 made by 100 stocks hit $1.53b which is more than thrice the 2017 total buybacks which totalled $426m.
This is despite a monthly decrease in buyback consideration by December which hit $78m, down from the $88m worth of shares bought back in November.
In 2016, buybacks reached $826m whilst 2015 saw a total of $2b worth of buyback transactions.
SGX revealed that the year-long buyback considerations in 2018 was led by CapitaLand, DBS, OCBC, UOB & Keppel Corp.
“Buybacks conducted by STI stocks made up more than 80% of the $1.53b consideration in 2018 & represented 0.5% of their combined market value,” SGX explained.
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