Irish product tanker specialist Ardmore Shipping is pledging $30m to a new shares buy-back programme.
The shipowner cited the combined influence of depressed stock prices and confidence in its balance-sheet liquidity after paying down debt in explaining the move.
The New York-listed company said the new authorisation effective through September 2023 will replace and expand an existing regime.
Ardmore shares jumped 6% at the start of New York trading on Tuesday on the announcement.
