Scorpio Services ups its SALT stake for third time

Scorpio Services ups its SALT stake for third time

Scorpio Services Holding (SSH) has returned to buy a third tranche of shares in its NYSE-listed affiliate Scorpio Bulkers (SALT) in the space of a month.

The 500,000 shares were acquired in the open market at an average price of $1.71 per share or $585,000 in total, raising SSH’s stake in SALT from 5.4% to 5.5%.

SALT currently has 336,081,930 common shares outstanding, of which SSH owns 18,644,129, the company said today.

On August 7, SSH bought a tranche of 500,000 shares in SALT at an average price of $1.78 per share, and on July 31 purchased 1,050,000 shares for $1.88 per share on average.

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

At the time of writing, SALT’s stock is trading at $1.65 per share.

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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