SGX buybacks hit $930m YTD

The total represents an 84% increase from the $505m recorded during the same period in 2024.

Share buyback activity on the Singapore Exchange (SGX) posted a strong start in 2025, with companies repurchasing $930m worth of shares via open market purchases between January and May, according to the latest SGX Market Update.

The total represents an 84% increase from the $505m recorded during the same period in 2024, and marks the strongest start to share buybacks since 2020.

In April 2025 alone, companies conducted $425m worth of share buybacks, making it the fourth-highest monthly total over the past decade. May 2025 saw an additional $176m in repurchases.

Leading the buybacks in May were Singapore’s major banks. United Overseas Bank (UOB) repurchased $144m worth of shares at an average price of $35.33 per share. DBS Group Holdings followed with $18m in buybacks (average $44.07 per share), whilst Olam Group repurchased $6m worth of shares at an average price of $0.926 per share, SGX reported.

Secondary-listed companies also continued their buyback programs. Hongkong Land repurchased US$55m worth of shares at an average price of US$5.05 as part of its ongoing US$200m share buyback programme, which is scheduled to run until 31 December 2025. ESR-LOGOS REIT and Stoneweg European REIT also reported continued unit buybacks during the period.

Aggregate data for January to May 2025 showed that Singapore’s three major banks, DBS, UOB, and OCBC, collectively accounted for 77% of total share buybacks on SGX, amounting to $712m. DBS led with $277m in repurchases, followed by UOB with $253m and OCBC with $182m.

Other companies contributing significantly to buybacks included Sembcorp Industries ($49m), Yangzijiang Shipbuilding ($30m), ST Engineering ($19m), Venture Corporation ($18m), and Singapore Exchange itself ($16m).