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GRM Investments becomes major Scorpio Bulkers shareholder

GRM Investments Ltd, part of Canadian property developer Onni Group, has acquired an 8.65% stake in Scorpio Bulkers (SALT) to become one of the NYSE-listed company’s biggest shareholders.

The investor has bought 2,482,583 shares, according to a US SEC filing. The price at which the shares were acquired was not disclosed, but the tranche is worth around $8.39m at Monday’s closing price of $3.38 per share.

Other recent reported investments point to GRM’s interest in the dry bulk business. Earlier this month, GRM bought a 1.65% stake in Canada’s Capstone Mining Corp, which is listed on the Toronto Stock Exchange.

Holly Birkett

Holly is Splash's Online Editor and correspondent for the UK and Mediterranean. She has been a maritime journalist since 2010, and has written for and edited several trade publications. She is currently studying for membership of the Institute of Chartered Shipbrokers. In 2013, Holly won the Seahorse Club's Social Media Journalist of the Year award. She is currently based in London.
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