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ST Engineering buys back shares; sets out 2026 revenue target of $11 bil

The Edge Singapore
The Edge Singapore 11/25/2021 03:06 PM GMT+08  • 3 min read
ST Engineering buys back shares; sets out 2026 revenue target of $11 bil
To capture new growth, ST Engineering has made a series of significant acquisitions
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ST Engineering on Nov 19 bought back 500,000 shares at a price range of between $3.95 and $3.96 per share, costing the company $1.98 million. This brings its total number of shares bought back under the current mandate to 5.8 million shares.

The most recent buyback before this was on Oct 28 when it paid between $3.85 and $3.86 each for 500,000 shares. On Oct 19, it had bought 500,000 shares at between $3.89 and $3.90 each.

The company on Nov 16 spelt out an FY2026 revenue target of more than $11 billion as it goes about capturing new opportunities across the board in smart city projects, defence and aerospace contracts. CEO Vincent Chong expects earnings to grow in tandem with the revenue.

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