Dubai-based newcomer Legatum has surpassed a long-time institutional stalwart as the largest shareholder in burgeoning Scorpio Tankers, according to recent filings with US securities regulators.
Legatum’s perch became clear with a filing by earlier Scorpio supporter Wellington Capital Management, which has backed the New York-based company since 2011.
While Wellington has kept accumulating Scorpio shares and looks to have participated in at least one of the owner’s recent capital raises, the US institutional investor’s stake stands just shy of the position commanded by Legatum.
As
