On March 1, it acquired 808,700 shares at $3.67 each on the open market. In subsequent buybacks, Sembcorp acquired its own shares at steadily higher prices, reaching $4.09 on March 21, when it acquired 784,500 shares.
Two large Singapore-listed companies have been buying back shares. One is riding positive market sentiment to reach multi-year highs, the other is struggling against multi-year lows.
Sembcorp Industries, one of the better performing index stocks this past year, has helped drive its ongoing upward trend with active share buybacks, especially throughout this month.
