Wall Street was reeling after learning that the Nasdaq-quoted operator raked in roughly $150m from the sale of 40 million common shares that commanded $3.75 a piece.
In a statement Scorpio indicated that proceeds from the exercise, which was backed by RS Platou Markets, would be applied towards its extensive newbuilding programme.
The announcement was followed by an avalanche of alerts from forecasters who admitted that the revelation came as what one analyst called “somewhat of a surprise”.
Jonathan
