OREANDA-NEWS. May 25, 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 fourth week of the month (18-22 May), there were a total of 19,526,848 shares repurchased by 17 stocks, with a total consideration of S\\$19.0 million. This reflected an increase from the fourth week of May last year, which saw a total of 6,724,965 shares purchased, with a total consideration of S\\$13.1 million.

The five stocks with the largest considerations in buybacks last week were Oversea-Chinese Banking Corporation, Singapore Telecommunications, Pacific Century Regional Developments, Raffles Education Corporation, and Singapore Exchange.

The table below is sorted by the total consideration amount in buybacks from 18 May to 22 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: 18-22 May Total Consideration: 18-22 May S\\$ Cum no of shares purchased to date Percent*
OVERSEA-CHINESE BANKING CORPORATION 28/04/2015 199,084,946 600,000 6,261,453 1,500,000 0.04
SINGAPORE TELECOMMUNICATIONS 18/05/2015 797,178,847 882,648 3,824,728 1,812,358 0.01
PACIFIC CENTURY REGIONAL DEVELOPMENTS 24/04/2015 273,887,290 6,289,200 2,729,388 6,866,400 0.25
RAFFLES EDUCATION CORPORATION 27/10/2014 101,620,523 6,313,300 1,980,829 21,207,000 2.09
SINGAPORE EXCHANGE 25/09/2014 107,164,240 170,000 1,496,057 920,000 0.09
INDOFOOD AGRI RESOURCES 29/04/2015 140,828,283 1,000,000 760,287 8,378,300 0.60
SEMBCORP MARINE 17/04/2015 208,873,772 159,200 473,792 159,200 0.01
HI-P INTERNATIONAL 28/04/2015 81,724,929 520,100 298,170 973,400 0.12
MTQ CORPORATION 25/07/2014 15,241,111 282,800 220,231 356,800 0.23
SARINE TECHNOLOGIES 29/04/2015 34,814,730 80,000 157,573 1,223,100 0.35
CHOSEN HOLDINGS 28/10/2014 28,391,842 820,000 143,407 3,046,200 1.07
FSL TRUST MANAGEMENT PTE. 29/04/2015 64,864,787 768,000 137,382 1,070,300 0.17
LIAN BENG GROUP 26/09/2014 52,976,000 260,000 134,202 19,895,000 3.76
TELECHOICE INTERNATIONAL 27/04/2015 45,442,149 480,000 127,595 480,000 0.11
POH TIONG CHOON LOGISTICS 30/04/2015 21,402,940 140,200 101,811 230,200 0.11
HOTUNG INVESTMENT HOLDINGS 24/04/2015 99,967,538 556,400 86,686 556,400 0.06
KOH BROTHERS GROUP 29/04/2015 41,634,090 205,000 68,837 305,000 0.07

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 fourth week of May, Oversea-Chinese Banking Corporation repurchased a total number of 600,000 shares with a total consideration of S\\$6,261,452.58.

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 1,500,000 shares under the 28 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 21 May 2015, the number of issued shares excluding treasury shares stood at 3,985,233,576 and the number of treasury shares held after purchase stood at 7,763,437.

Singapore Telecommunications

On 18 May 2015, a share buyback resolution was passed for Singapore Telecommunications. In the fourth week of May, Singapore Telecommunications repurchased a total number of 882,648 shares with a total consideration of S\\$3,824,728.41.

The maximum number of shares authorised for the buyback transaction was 797,178,847. As of end of last week, by way of acquisition, Singapore Telecommunications had purchased a cumulative amount of 1,812,358 shares under the 18 May 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 19 May 2015, the number of issued shares excluding treasury shares stood at 15,941,764,591 and the number of treasury shares held after purchase stood at 1,812,358.

Pacific Century Regional Developments

On 24 April 2015, a share buyback resolution was passed for Pacific Century Regional Developments. In the fourth week of May, Pacific Century Regional Developments repurchased a total number of 6,289,200 shares with a total consideration of S\\$2,729,387.91.

The maximum number of shares authorised for the buyback transaction was 273,887,290. As of end of last week, by way of acquisition, Pacific Century Regional Developments had purchased a cumulative amount of 6,866,400 shares under the 24 April 2015 resolution.

This represented 0.25% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 22 May 2015, the number of issued shares excluding treasury shares stood at 2,732,006,500 and the number of treasury shares held after purchase stood at 0.

Raffles Education Corporation

On 27 October 2014, a share buyback resolution was passed for Raffles Education Corporation. In the fourth week of May, Raffles Education Corporation repurchased a total number of 6,313,300 shares with a total consideration of S\\$1,980,829.19.

The maximum number of shares authorised for the buyback transaction was 101,620,523. As of end of last week, by way of acquisition, Raffles Education Corporation had purchased a cumulative amount of 21,207,000 shares under the 27 October 2014 resolution. This represented 2.09% of the company's issued shares (excluding treasury shares) as at the date of the share buyback resolution.

As of 22 May 2015, the number of issued shares excluding treasury shares stood at 994,998,233 and the number of treasury shares held after purchase stood at 50,297,000.

Singapore Exchange

On 25 September 2014, a share buyback resolution was passed for Singapore Exchange. In the fourth week of May, Singapore Exchange repurchased a total number of 170,000 shares with a total consideration of S\\$1,496,057.00.

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.