Just a week after it bought a first tranche of shares, Scorpio Services Holding has returned to buy a second lot of 500,000 common shares in its NYSE-listed affiliate Scorpio Bulkers, in which it now has a 5.4% stake.
The shares were purchased in the open market at an average price of $1.78 per share.
Scorpio Services Holding, which technically and commercially manages the Scorpio fleet through its subsidiaries, now owns 18,144,129 of Scorpio Bulkers’ 336,081,930 outstanding common shares.
On July 31, the company purchased 1,050,000 of Scorpio Bulkers’ common shares at an average price of $1.88 per share.
At the time of writing, Scorpio Bulkers’ stock is currently trading at $1.83 per share.