Ardmore Shipping has hatched a new share buyback scheme.
New York-listed Ardmore plans to repurchase stock worth up to $25m through to August 2020.
Shares in the Tony Gurnee led shipowner closed at $8.10 each on Thursday, compared with its 52-week high of $8.75 per share.
Ardmore has a fleet of 27 tankers and a market capitalization of $271m.
Greenbriar Equity Group is the largest shareholder in the Cork-based company, followed by Donald Smith & Co, FMR, Blackrock and Royce and Associates.
Other stakeholders include Aristotle Capital, Eagle Boston, Dimensional Fund and Wells Fargo.
