OREANDA-NEWS. June 04, 2015. Share buyback is a simple strategy where a share issuer repurchases some of its outstanding shares from shareholders through open market transactions. Once the shares are bought back, they will be converted into treasury shares, which means they are no longer categorised as shares outstanding. Motivations for share buybacks include companies trying to align stock valuations with balance sheet objectives or employee compensation changes.

Share buyback information can be found on the company disclosure page on the SGX website, using the Announcement category and sub-category of Share Buy Back-On Market.

Source: SGX

For the month of May, there were a total 68,571,248 shares repurchased by 23 stocks, with a total consideration of S\\$90.4 million. This was an increase from May last year, which saw a total of 29,267,965 shares purchased, with a total consideration of S\\$43.8 million.

The five stocks with the largest consideration in buybacks in May were Oversea-Chinese Banking Corporation, OSIM International, DBS Group Holdings, Singapore Exchange, and Indofood Agri Resources.

The table below provides specific details of the buybacks for May. The table is sorted by the total consideration amount in May, which collates the amount of shares purchased and the purchasing price of the shares. The date of the relevant share buyback mandate is also provided, in addition to the amount of shares authorised to be bought back under the mandate. The total number of shares purchased under the mandate and the percentage of the companies that issued shares that have been repurchased under the mandate are also provided.

Name Start Date Mandate Total no of shares purchased: May Total Consideration: May S\\$ Cum no of shares purchased to date Percent*
OVERSEA-CHINESE BANKING CORPORATION 28/04/2015 199,084,946 2,050,000 21,359,006.16 2,050,000 0.05
OSIM INTERNATIONAL 31/03/2015 77,915,153 11,318,600 19,095,065.85 16,484,700 2.18
DBS GROUP HOLDINGS 23/04/2015 24,787,928 900,000 18,315,506.65 900,000 0.04
SINGAPORE EXCHANGE 25/09/2014 107,164,240 920,000 8,026,218.00 920,000 0.09
INDOFOOD AGRI RESOURCES 29/04/2015 140,828,283 8,378,300 6,325,790.39 8,378,300 0.60
PACIFIC CENTURY REGIONAL DEVELOPMENTS 24/04/2015 273,887,290 10,303,200 4,567,746.21 10,406,300 0.38
SINGAPORE TELECOMMUNICATIONS 18/05/2015 797,178,847 882,648 3,824,728.41 1,812,358 0.01
RAFFLES EDUCATION CORPORATION 27/10/2014 101,620,523 9,851,800 3,094,714.67 23,027,900 2.27
HOTUNG INVESTMENT HOLDINGS 24/04/2015 99,967,538 5,846,400 874,885.37 5,846,400 0.58
USP GROUP 27/02/2015 67,012,023 8,796,000 783,024.61 54,452,300 8.13
BOUSTEAD SINGAPORE 25/07/2014 51,521,107 500,000 679,032.66 500,000 0.10
HI-P INTERNATIONAL 28/04/2015 81,724,929 1,055,700 588,759.12 1,055,700 0.13
FSL TRUST MANAGEMENT PTE. 29/04/2015 64,864,787 2,807,000 511,395.57 2,807,000 0.43
SEMBCORP MARINE 17/04/2015 208,873,772 159,200 473,791.64 159,200 0.01
MTQ CORPORATION 25/07/2014 15,241,111 400,000 311,780.33 400,000 0.26
CHOSEN HOLDINGS 28/10/2014 28,391,842 1,469,200 251,032.64 3,046,200 1.07
KOH BROTHERS GROUP 29/04/2015 41,634,090 705,000 235,728.60 705,000 0.17
JASON MARINE GROUP 24/07/2014 10,575,000 897,000 229,742.08 897,000 0.85
STRACO CORPORATION 29/04/2015 85,801,958 220,000 229,153.41 220,000 0.03
SARINE TECHNOLOGIES 29/04/2015 34,888,829 110,000 217,451.99 1,253,100 0.36
POH TIONG CHOON LOGISTICS 30/04/2015 21,402,940 261,200 188,657.56 261,200 0.12
LIAN BENG GROUP 26/09/2014 52,976,000 260,000 134,202.13 19,895,000 3.76
TELECHOICE INTERNATIONAL 27/04/2015 45,442,149 480,000 127,594.70 480,000 0.11

Source: SGX *percentage of company’s issued shares excluding treasury shares as at the date of the share buyback resolution

Oversea-Chinese Banking Corporation

On 28 April 2015, a share buyback resolution was passed for Oversea-Chinese Banking Corporation. In the month of May, Oversea-Chinese Banking Corporation repurchased a total number of 2,050,000 shares with a total consideration of S\\$21,359,006.16.

The maximum number of shares authorised for the buyback transaction was 199,084,946. As of end of last week, by way of acquisition, Oversea-Chinese Banking Corporation had purchased a cumulative amount of 2,050,000 shares under the 28 April 2015 resolution. This represented 0.05% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 28 May 2015, the number of issued shares excluding treasury shares stood at 3,984,791,622 and the number of treasury shares held after purchase stood at 8,205,391.

OSIM International

On 31 March 2015, a share buyback resolution was passed for OSIM International. In the month of May, OSIM International repurchased a total number of 11,318,600 shares with a total consideration of S\\$19,095,065.85.

The maximum number of shares authorised for the buyback transaction was 77,915,153. As of end of last week, by way of acquisition, OSIM International had purchased a cumulative amount of 16,484,700 shares under the 31 March 2015 resolution. This represented 2.18% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 14 May 2015, the number of issued shares excluding treasury shares stood at 756,198,256 and the number of treasury shares held after purchase stood at 22,953,273.

DBS Group Holdings

On 23 April 2015, a share buyback resolution was passed for DBS Group Holdings. In the month of May, DBS Group Holdings repurchased a total number of 900,000 shares with a total consideration of S\\$18,315,506.65.

The maximum number of shares authorised for the buyback transaction was 24,787,928. As of end of last week, by way of acquisition, DBS Group Holdings had purchased a cumulative amount of 900,000 shares under the 23 April 2015 resolution. This represented 0.04% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 29 May 2015, the number of issued shares excluding treasury shares stood at 2,507,904,303 and the number of treasury shares held after purchase stood at 1,584,200.

Singapore Exchange

On 25 September 2014, a share buyback resolution was passed for Singapore Exchange. In the month of May, Singapore Exchange repurchased a total number of 920,000 shares with a total consideration of S\\$8,026,218.00.

The maximum number of shares authorised for the buyback transaction was 107,164,240. As of end of last week, by way of acquisition, Singapore Exchange had purchased a cumulative amount of 920,000 shares under the 25 September 2014 resolution. This represented 0.09% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 19 May 2015, the number of issued shares excluding treasury shares stood at 1,070,155,323 and the number of treasury shares held after purchase stood at 1,487,077.

Indofood Agri Resources

On 29 April 2015, a share buyback resolution was passed for Indofood Agri Resources. In the month of May, Indofood Agri Resources repurchased a total number of 8,378,300 shares with a total consideration of S\\$6,325,790.39.

The maximum number of shares authorised for the buyback transaction was 140,828,283. As of end of last week, by way of acquisition, Indofood Agri Resources had purchased a cumulative amount of 8,378,300 shares under the 29 April 2015 resolution. This represented 0.60% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 19 May 2015, the number of issued shares excluding treasury shares stood at 1,395,904,530 and the number of treasury shares held after purchase stood at 51,878,300.