More than 70 companies listed on the Singapore Exchange (SGX) have repurchased a combined S$2.09 billion worth of shares in the first eight months of 2026, up 33% from S$1.57 billion recorded during the same period last year.
The latest figure is also more than double the S$855 million recorded in the first eight months of 2024, highlighting a sharp increase in the use of share buybacks by Singapore-listed companies.
According to SGX, companies have been using buybacks to deploy surplus capital, support employee remuneration plans, enhance earnings per share and return on equity and take advantage of what they see as undervalued share prices.
Singtel accounted for the largest portion of the buybacks during the eight-month period, with S$948.6 million worth of shares repurchased, representing around 45% of the total.
The telecommunications group is conducting its Value Realisation Share Buyback Programme, which allows for up to S$2 billion in share purchases over three years. SGX noted that full execution and cancellation of the repurchased shares is expected to provide a permanent 3% uplift to underlying earnings per share, alongside a higher earnings per share and dividend per share trajectory.
August alone saw primary-listed companies repurchase 51.16 million shares worth S$180.18 million.
Singtel again led the monthly figures with S$55.6 million worth of shares repurchased, followed by Keppel with S$54.4 million and United Overseas Bank with S$26.9 million. ST Engineering recorded S$10.5 million while Seatrium bought back S$8 million worth of shares.
Seatrium is also nearing the completion of its S$100 million Share Buyback Programme. After spending S$8 million in August, the company bought another S$2 million worth of shares on Sept 1, bringing cumulative purchases under the programme to about S$99.7 million since its launch in 2024.
SGX said the trend reflects the different ways companies are using buybacks as part of their capital management strategies, particularly where management believes their shares do not fully reflect underlying value.
Among secondary-listed companies, Jardine Matheson also repurchased 368,300 shares in August for US$22.67 million.
