A private company controlled by the Lolli-Ghetti family has purchased nearly $1.34m worth of shares in Scorpio Tankers.

The New York-listed company said Scorpio Services Holding bought 300,000 shares.

The shares were purchased in the open market at an average price of $4.45.

Scorpio Tankers was founded by the Lolli-Ghettis and is led by Emanuele Lauro, a member of the family.