In a significant financial development, 76 primary-listed companies in Singapore have collectively repurchased S$1.65b worth of shares through open market acquisitions by 11 September 2025. This marks an 80% increase compared to the same period in 2024, driven largely by the country’s major banks. United Overseas Bank (UOB), DBS Group Holdings, and Oversea-Chinese Banking Corporation (OCBC) led the buyback efforts, contributing a combined S$1.28b.
The surge in buybacks is attributed to market volatility in April, which alone accounted for S$425m. Companies often engage in share buybacks to enhance financial metrics such as Earnings per Share (EPS) and Return on Equity (ROE), and to efficiently manage excess capital. The Monetary Authority of Singapore (MAS) notes that buybacks can also capitalise on perceived undervaluation and lower overall capital costs.
Among the notable buybacks, UOB repurchased shares at an average price of S$35.39, DBS at S$42.77, and OCBC at S$16.67. Beyond the Straits Times Index (STI) stocks, Olam Group and Raffles Medical Group also made significant buybacks.
Additionally, AEM Holdings, Kingsmen Creatives, and Jason Marine Group executed buybacks for the first time in years, indicating a strategic move to bolster shareholder value and optimise capital structures. These actions reflect a broader trend of companies leveraging buybacks as a tool for capital management and shareholder engagement.
As the year progresses, these buyback activities are expected to continue shaping the financial landscape in Singapore, with implications for both market stability and investor confidence.
