Share buyback activities among Singapore Exchange (SGX) primary-listed companies reached $1.65 billion for the year-to-date period ending September 11, representing a substantial 80% increase from the $916 million recorded during the same period last year. A total of 76 companies participated in these buyback programs.

The three major Singapore banks - United Overseas Bank (UOB), DBS Group Holdings, and Oversea-Chinese Banking Corporation (OCBC) - emerged as the largest spenders in the buyback arena.

UOB led the pack with $560.8 million spent on repurchasing 15.8 million shares at an average price of $35.39 per share during this period.

DBS followed closely, allocating $371.1 million to buy back 8.7 million shares at an average price of $42.77 per share.

OCBC completed the top trio by spending $349.3 million on acquiring 20.95 million shares, achieving an average price of $16.67 per share.

The remaining companies in the top 10 buyback spenders include Keppel, Sembcorp Industries, Singapore Technologies Engineering (ST Engineering), Yangzijiang Shipbuilding (Holdings), SGX, Olam Group, and Venture Corporation.

Keppel allocated $70.1 million to repurchase 8.5 million shares at an average of $8.39 per share, while Sembcorp Industries spent $59.1 million on 9.8 million shares, averaging $6.05 per share.

ST Engineering invested $44.3 million in buying back 6.5 million shares at an average of $6.82 per share, whereas Yangzijiang Shipbuilding spent $29.5 million on 15 million shares, achieving an average price of $1.97 per share.

SGX, Olam Group, and Venture Corporation spent $22.4 million, $20.8 million, and $18 million respectively, purchasing 1.7 million shares, 22.2 million shares, and 1.5 million shares. Their respective average share prices were $13.07, 93.5 cents, and $12.29.

Among secondary-listed companies, Hongkong Land executed a significant buyback program, repurchasing US$176 million worth of shares at an average price of US$5.62. This buyback initiative was announced on April 24, with all repurchased shares scheduled for cancellation by December 31 this year.

City Developments Limited (CDL) conducted an off-market equal access scheme on June 10, repurchasing 26.8 million preference shares at 78 cents each. This strategic move was designed to enhance control over the company's share capital structure.

Debut Buyback Programs

Several companies initiated their first buyback programs in 2025, including AEM Holdings, Kingsmen Creative, and Jason Marine Group.

According to SGX, while these buybacks were likely primarily intended for employee incentive programs, all three companies emphasized the capital management benefits of their buyback strategies.

Kingsmen Creative executed its first buyback since April 2016 on September 3, acquiring 66,600 shares at 45 cents per share.

AEM Holdings conducted its first buyback since March 2023 on September 10, purchasing 200,000 shares at $1.52 per share.

Jason Marine Group acquired 70,000 shares between September 1 and 3 at an average price of 14.6 cents per share. The company stated that these buybacks were part of strategic efforts to enhance market valuation and improve share liquidity.