New York-listed Scorpio today scrapped a partially completed $100m repurchasing plan and initiated a fresh $150m scheme.
It marks the latest signal from Scorpio that its executives feel investors are undervaluing the company.
The shredding of its previous buyback and the introduction of a new one comes with around $55m still remaining on the earlier plan.
Around 22.63 million Scorpio shares had been repurchased at an average of $8.87
