Scorpio Tankers to issue 30 million new shares

The Monaco-based tanker carrier has priced its new share issue of 30 million new common shares. Somewhat puzzling,

Photo: Scorpio Tankers/PR

Scorpio Tankers, controlled by Robert Bugbee and Emanuele Lauro, plan to issue 30 million new shares, and the tanker carrier has now priced the shares at USD 3 apiece, according to a notice.

Proceeds from the share issue, planned closed in Dec. 1, are expected to be used to strengthen Scorpio Tankers' balance sheet as well as for general business purposes.

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