CLI and CDL lead SGX share buybacks in 1Q24

The buyback consideration recorded in 1Q24 was $232m. 

CapitaLand Investment (CLI) and City Developments Limited (CDL) topped share buybacks in the Singapore Exchange in 1Q24.

Data from SGX showed that CLI bought back 31.2 million shares at an average price of $2.96, whilst City Developments bought back 6.7 million shares at an average price of $5.91 per share, leading the primary-listed buyback consideration tally in 1Q24.

The buyback consideration recorded in 1Q24 of $232m was higher than the 1Q23 record of $111m.

For comparison, 50 primary-listed companies bought back shares by way of market acquisition in 1Q24, and there were 41 in 1Q23.

The 1Q24 consideration represents 0.04% of the total market capitalisation of all primary-listed stocks on the Singapore Exchange as of the end of March