In the first seven months of 2026, more than 70 primary-listed companies in Singapore collectively repurchased S$1.9b worth of shares, marking a significant increase from S$1.3b in the same period last year. This surge in buyback activity is largely attributed to Singapore Telecommunications (Singtel), which accounted for nearly half of the total buyback consideration.
Singtel’s aggressive buyback strategy saw the company repurchasing 23.6 million shares for S$103.6n in July alone, bringing its total for the year to 195.3 million shares at a cost of S$893m. The company maintains that its S$2b Value Realisation Share Buyback programme will lead to a 3% increase in underlying earnings per share, enhancing its financial metrics.
Other notable companies initiating buybacks in July include Geo Energy Resources, Raffles Medical Group, and Addvalue Technologies. Geo Energy Resources led this group with a buyback of 5.8 million shares for S$3.15m, citing undervaluation and long-term growth prospects as key motivators.
The buyback trend is not limited to primary-listed companies. Secondary-listed firms like Jardine Matheson Holdings and Hongkong Land also engaged in substantial buybacks, spending US$270m and US$210m, respectively.
Overall, the buyback activities reflect a strategic move by companies to enhance shareholder value, improve financial metrics, and deploy surplus capital effectively. As companies continue to navigate market conditions, buybacks remain a flexible tool for capital allocation and shareholder returns.
