OREANDA-NEWS. May 13, 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.

For the second week of the month (4-8 May), there were a total of 13,197,600 shares repurchased by five stocks, with a total consideration of S\\$12.3 million. This was an increase from the second week of May last year, which saw a total of 4,685,000 shares purchased, with a total consideration of S\\$10.1 million.

The five stocks in descending order of consideration in buybacks last week were OSIM International, Oversea-Chinese Banking Corporation, Indofood Agri Resources, USP Group, and Chosen Holdings.

The table below is sorted by the total consideration amount in buybacks from 4 May to 8 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 which have been repurchased under the mandate are also provided.

Name Start Date Mandate Total no of shares purchased: 4-8 May Total Consideration: 4-8 May Cum no of shares purchased to date Percent*
OSIM INTERNATIONAL 31/03/2015 77,915,153 3,853,100 6,454,884.84 9,019,200 1.18
OVERSEA-CHINESE BANKING CORPORATION 28/04/2015 199,084,946 300,000 3,132,418.60 300,000 0.01
INDOFOOD AGRI RESOURCES 29/04/2015 140,828,283 2,878,800 2,105,756.54 2,878,800 0.21
USP GROUP 27/02/2015 67,012,023 5,830,300 537,197.21 53,452,300 7.98
CHOSEN HOLDINGS 28/10/2014 28,391,842 335,400 54,860.72 1,912,400 0.67

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

OSIM International

On 31 March 2015, a share buyback resolution was passed for OSIM International. In the second week of May, OSIM International repurchased a total number of 3,853,100 shares with a total consideration of S\\$6,454,884.84.

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 9,019,200 shares under the 31 March 2015 resolution. This represented 1.18% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 8 May 2015, the number of issued shares excluding treasury shares stood at 763,663,756 and the number of treasury shares held after purchase stood at 15,487,773.

Oversea-Chinese Banking Corporation                                           

On 28 April 2015, a share buyback resolution was passed for Oversea-Chinese Banking Corporation. In the second week of May, Oversea-Chinese Banking Corporation repurchased a total number of 300,000 shares with a total consideration of S\\$3,132,418.6.

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 300,000 shares under the 28 April 2015 resolution. This represented 0.01% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 7 May 2015, the number of issued shares excluding treasury shares stood at 3,986,337,987 and the number of treasury shares held after purchase stood at 6,659,026.

Indofood Agri Resources

On 29 April 2015, a share buyback resolution was passed for Indofood Agri Resources. In the second week of May, Indofood Agri Resources repurchased a total number of 2,878,800 shares with a total consideration of S\\$2,105,756.54.

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 2,878,800 shares under the 29 April 2015 resolution. This represented 0.21% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 8 May 2015, the number of issued shares excluding treasury shares stood at 1,401,404,030 and the number of treasury shares held after purchase stood at 46,378,800.

USP Group

On 27 February 2015, a share buyback resolution was passed for USP Group. In the second week of May, USP Group repurchased a total number of 5,830,300 shares with a total consideration of S\\$537,197.21.

The maximum number of shares authorised for the buyback transaction was 67,012,023. As of end of last week, by way of acquisition, USP Group had purchased a cumulative amount of 53,452,300 shares under the 27 February 2015 resolution. This represented 7.98% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 8 May 2015, the number of issued shares excluding treasury shares stood at 616,667,938 and the number of treasury shares held after purchase stood at 53,452,300.

Chosen Holdings

On 28 October 2014, a share buyback resolution was passed for Chosen Holdings. In the second week of May, Chosen Holdings repurchased a total number of 335,400 shares with a total consideration of S\\$54,860.72.

The maximum number of shares authorised for the buyback transaction was 28,391,842. As of end of last week, by way of acquisition, Chosen Holdings had purchased a cumulative amount of 1,912,400 shares under the 28 October 2014 resolution. This represented 0.67% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 8 May 2015, the number of issued shares excluding treasury shares stood at 282,855,127 and the number of treasury shares held after purchase stood at 4,091,297.