Share buyback started way back in 1942 in the US. In the 1960s, it was launched in the UK, by the mid-1990s, it had become popular in other European countries. In Asia, share buyback began in Japan in 1995. Malaysia followed suit in 1997, and then Singapore and Hong Kong in 1998.
In India, share buyback was prohibited under section 77(1) of the Company Act 1956 till 1998. Then in 1999, the Companies (Amendment) Act 1999 added sections 77A, 77AA, and 77B to regulate share buyback in India. Additionally, SEBI (Buyback of Securities) Regulations 1998 came into existence which allowed Indian companies to repurchase their shares from October 31, 1988.
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PayPal (9 USD)
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