Scorpio buys own stock for more than USD 50 million

The two companies in Scorpio Group have each bought back their own shares for more than USD 25 million. In both cases, the buyback involves a significant amount of the total number of issued shares.

Photo: Chris Prevolos/Marine Money

Scorpio Tankers and Scorpio Bulkers have each purchased their own stock for approximately USD 25 million, informs the two companies, both part of the Scorpio Group, in separate announcements to the New York stock exchange.

Scorpio Bulkers' buyback amounts to USD 25.2 million, while sister company Scorpio Tankers has bought USD 23.2 million worth of its own shares. In both cases the buybacks make up a significant share of total issued stock in the company. Scorpio Bulkers' purchase is equivalent to 6 percent of total shares issued, while Scorpio Tankers' acquisition is equivalent to 2.7 percent of issued stock.

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