scorpio tankersScorpio Tankers Inc.’s (STNG) offering of 30.7 million shares priced at a 5.2% discount of Tuesday’s close.

The company will sell the shares at $7.50 each, below Tuesday’s closing price of $7.91. Shares, which were inactive premarket, are up 46% over the past three months.

The oil tanker owner said it plans to use the money raised for vessel acquisitions, working capital and other general corporate needs.

The offer comes after Scorpio in December put forward an offering of 21.6 million shares, looking to repay debt and raise funds for general corporate uses.

The company has about 64 million shares outstanding, according to FactSet.

Write to Ben Fox Rubin at ben.rubin@dowjones.com

(c) 2013 Dow Jones & Company

Tagged with →  
Share →

Sign up for the gCaptain Newsletter!

Over 27,000 people receive the gCaptain email newsletter every single day. Get the maritime and offshore industry headlines that matter sent straight to your inbox. Or LIKE us on Facebook!

We will not share your email address with anybody for any reason