Scorpio Tankers +2% on stock swap

|About: Scorpio Tankers Inc. (STNG)|By:, SA News Editor

Scorpio Tankers (STNG +2%) says it bought back 7.5M shares of its own stock using some of its stake in Dorian LPG (LPG +1.2%) as currency, and will record a gain of $11M on the deal.

STNG is left with 9.4M Dorian shares after selling 3.42M shares.

STNG also says it repurchased 2.76M shares at an average of $8.89 each as part of a $100M share buyback program.