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Author: SGX   |   Latest post: Mon, 20 Jun 2022, 8:22 AM

 

Keppel Corp Leads Buyback Consideration Tally in March

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  • In March, 31 primary-listed stocks bought back their shares with a combined S$131.46 million in consideration, up from the 21 stocks that filed S$114.0 million in consideration for February. Seasonally, the consideration also surpassed the S$71.8 million in consideration filed for March 2021.
     
  • The monthly buyback consideration tally was again led by Keppel Corp, with the conglomerate buying back S$74 million of its shares in March at an average price of S$6.07 per share. As of 18 March, Keppel Corp had bought back 1.52% of its issued shares (excl. treasury shares) on the current buyback mandate.
     
  • Keppel Corp also led the buyback consideration tally in Feb, as well as for 1Q22, while also ranking as the STI’s second strongest performing constituent in 1Q22 with a 25% gain. For 1Q22, the share buyback consideration of primary-listed Singapore stocks came to S$298.3 million, more than doubling the 1Q21 consideration at S$134.0 million.

 

In the month of March, 31 primary-listed stocks on SGX bought back their shares that totaled S$131.46 million in buyback consideration, up from the S$114.0 million in consideration and S$52.9 million in consideration in January. The S$131.46 million in buyback consideration represented 0.02% of the total market value of all primary-listed stocks listed on SGX as of the end of the end of March.

Secondary-listings Jardine Matheson Holdings and Hongkong Land also continued to conduct share buybacks in March. Jardine Matheson Holdings completed its US$500 million Share Buyback Programme on Mar 4. From 30 Sep through to 4 Mar, the share price of Jardine Matheson Holdings gained 13.7% in SGD terms, ranking the seventh strongest stock of the MSCI Hong Kong Index over the period.

During the month of March, the STI gained 5.1% to 3,408.52 as the FTSE Asia Pacific Index declined 0.5% in SGD terms.

Buyback consideration

As seen in February, the March buyback consideration tally was led by Keppel Corporation. As of 18 March, Keppel Corporation had bought back 1.52% of its respective issued shares (excl. treasury shares) on the current buyback mandate. On 27 January, Keppel Corporation announced it had established a S$500 million Share Buyback Programme, pursuant to the Share Purchase Mandate granted by its shareholders at the Company’s previous AGM. The Company noted that shares repurchased will be held as treasury shares which will be used in part for the annual vesting of employee share plans, but also as possible currency for future M&A activities.

The table below summarises the buyback transactions of the 31 primary-listed stocks that conducted buybacks in March, up from the 21 primary-listed stocks that conducted buybacks in February. The table is sorted by the value of the total consideration amount for the month, which combines the amount of shares or units purchased and the purchasing price of the transactions.

Primary-listed Stocks that Conducted Buybacks in March 2022

Number of Shares/units Authorised for Purchase in Current Mandate

Total Number of Shares/Units Purchased in March 2022

Total Buyback Consideration (including stamp duties, clearing changes etc.) paid or payable for the shares

Avg. Price Paid

Cumulative Number of Shares/units purchased in Mandate to date

Pct of Outstanding Shares (Excl. Treas) purchased in Mandate to date

KEPPEL CORPORATION

36,400,461

12,164,000

$73,880,138

$6.074

27,734,100

1.52

OVERSEA-CHINESE BANKING CORPORATION

223,511,333

2,300,000

$27,507,163

$11.960

31,180,100

0.70

RAFFLES MEDICAL GROUP LTD

186,740,892

8,387,100

$9,717,152

$1.159

15,666,500

0.84

GOLDEN AGRI-RESOURCES LTD

1,269,207,305

10,400,000

$3,125,341

$0.301

10,400,000

0.08

THE HOUR GLASS

69,664,318

1,377,400

$2,823,728

$2.050

14,064,300

2.02

SINGAPORE EXCHANGE

107,164,240

212,100

$1,993,065

$9.397

2,814,400

0.26

GLOBAL INVESTMENTS

159,744,243

11,269,600

$1,744,488

$0.155

73,895,100

4.63

VALUETRONICS HOLDINGS

43,562,583

3,272,400

$1,714,326

$0.524

3,711,100

0.85

HONG FOK CORPORATION

84,467,474

2,052,300

$1,619,343

$0.789

2,052,300

0.24

OUE

87,879,966

1,003,400

$1,294,980

$1.291

8,513,500

0.97

AEM HOLDINGS

28,088,477

292,800

$1,202,633

$4.107

1,739,800

0.62

G K GOH HOLDINGS

32,481,013

1,007,300

$1,142,378

$1.134

3,787,100

1.17

COSMOSTEEL HOLDINGS

29,039,999

4,285,500

$521,648

$0.122

4,285,500

1.48

GHY CULTURE & MEDIA HOLDING CO

107,379,200

1,177,100

$498,412

$0.423

2,491,000

0.23

PAN-UNITED CORPORATION

69,857,582

1,410,000

$494,320

$0.351

4,291,000

0.61

VENTURE CORPORATION

14,517,478

28,000

$491,780

$17.564

203,000

0.07

MEDTECS INTERNATIONAL CORP LTD

54,641,124

1,500,000

$339,080

$0.226

1,500,000

0.27

BROADWAY INDUSTRIAL GROUP

46,822,156

1,500,000

$299,827

$0.200

13,026,800

2.78

COMFORTDELGRO CORPORATION

216,671,416

142,500

$192,622

$1.352

142,500

0.01

SINGAPORE SHIPPING CORPORATION

39,889,089

589,000

$164,754

$0.280

6,391,600

1.60

GLOBAL PALM RESOURCES HOLDINGS

25,053,418

505,600

$116,423

$0.230

1,138,800

0.45

TUAN SING HOLDINGS

118,736,488

250,700

$98,720

$0.394

730,700

0.06

BOUSTEAD SINGAPORE

48,403,012

104,600

$97,733

$0.934

1,782,800

0.37

HG METAL MANUFACTURING

3,822,532

220,000

$91,360

$0.415

2,025,700

1.59

ALLIANCE HEALTHCARE GROUP

20,788,835

500,000

$87,678

$0.175

500,000

0.24

BAN LEONG TECHNOLOGIES

11,386,050

214,700

$84,399

$0.393

456,200

0.40

EUROSPORTS GLOBAL

25,944,480

349,300

$59,012

$0.169

1,577,300

0.61

CSC HOLDINGS

356,782,817

2,000,000

$28,087

$0.014

40,400,000

1.13

ISOTEAM

34,835,223

160,400

$16,571

$0.103

160,400

0.05

ST GROUP FOOD INDUSTRIES HOLDINGS

24,286,210

50,100

$5,969

$0.119

290,100

0.12

MDR

88,288,167

80,000

$5,770

$0.072

7,209,100

0.82

Total

 

68,805,900

$131,458,902

 

 

 

 Source: SGX, Refinitiv, Bloomberg (Data as of 31 March 2022)

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Labels: Keppel Corp

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Chart Stock Name Last Change Volume 
Keppel Corp 6.56 +0.04 (0.61%) 1,566,300 

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