Scorpio Services buys sixth tranche of Scorpio Bulkers shares

Scorpio Services Holding (SSH) has purchased 1,436,352 common shares in NYSE-listed Scorpio Bulkers, the sixth tranche of shares to be bought by the affiliate company since July.

The shares were acquired at an average price of $1.60 per share in the open market since September 14, the company said today. The last tranche of shares were acquired at an average price of $1.62 per unit.

The purchase raises SSH’s stake in Scorpio Bulkers from 6.0% (20,036,403 shares) to 6.3% (21,634,390 shares) of the total 343,905,637 common shares outstanding.

SSH technically and commercially manages the Scorpio fleet through its subsidiaries.

At the time of writing, Scorpio Bulkers’ stock is trading at $1.55 per share.