Scorpio Tankers has spent close to $18m so far this month in repurchasing its common stock, as part of its plan to spend up to $250m buying back its shares.
The company has this month purchased 1,716,155 of its common shares in the open market at an average price of $10.48 per share, spending around $17.99m in total.
Since the company announced the buy-back scheme in May, Scorpio Tankers has repurchased 1,986,504 of its common shares in total at an average price of $10.42 per share. These will be held as treasury shares, the company said.
Scorpio has also acquired its convertible senior notes due 2019, which have a face value of $1.5m, at an average price of $1,088.10 per $1,000 principal amount.
The NYSE-listed company still has $227.6m remaining to spend on the scheme.