HAFNIA LIMITED: Transactions Made Under Share Buyback Program

Rhea-AI Summary

Hafnia (NYSE: HAFN) has provided an update on its share buyback program launched on December 2, 2024. From December 16-20, 2024, the company purchased 3,258,014 shares at an average price of $5.18 per share, totaling approximately $16.9 million. The transactions were executed across both the OSE and NYSE trading venues.

The buyback program allows for repurchasing up to 18,000,000 shares for a total amount of up to $100 million through January 27, 2025. Following these transactions, Hafnia owns 9,639,056 of its own shares, representing 1.88% of its total issued share count.

Positive

• Strong share buyback program of up to $100 million demonstrates financial strength
• Already executed $49.1 million (49.1%) of the total buyback program
• Consistent daily trading volume indicates good program execution

Negative

• Average share price of $5.18 represents a decline from previous buyback average of $5.48

Insights

Financial Analyst

Hafnia's share buyback program execution reveals strategic capital allocation with notable market activity across both NYSE and OSE exchanges. The company has deployed $16.88 million in the latest week, acquiring 3,258,014 shares at an average price of $5.18 per share. The total program has now utilized $49.08 million of its $100 million allocation, representing approximately 49% completion.

The dual-exchange execution strategy demonstrates sophisticated price optimization, with slight pricing differentials between NYSE ($5.39) and OSE ($5.35) averages. The consistent daily volume and tight price range suggest well-managed execution without significant market impact. With 1.88% of total shares now repurchased, this represents meaningful progress toward capital return while maintaining conservative leverage.

Think of this buyback as a company effectively buying its own stock at a discount - it's like getting a good deal on something you know has value. For everyday investors, the steady buying pressure and substantial remaining buyback capacity ($50.9 million) provides potential price support while signaling management's confidence in the company's intrinsic value.

Market Research Analyst

The systematic execution of this buyback reveals important market dynamics in the shipping sector. The average purchase price of $5.18 during this period, compared to the program's average of $5.37, indicates opportunistic buying at lower price levels. This timing advantage in a cyclical industry like shipping can significantly enhance shareholder value.

The program's execution across dual markets (NYSE and OSE) showcases sophisticated arbitrage management and liquidity optimization. With 5,376,698 shares bought on NYSE versus 3,760,000 on OSE, there's a clear preference for U.S. market liquidity while maintaining significant presence in the Nordic market. For the average investor, imagine this as shopping at two different stores to get the best overall deal - that's exactly what Hafnia is doing here with its shares.

SINGAPORE--(BUSINESS WIRE)-- Reference is made to the stock exchange announcement made by Hafnia Limited ("Hafnia" or the "Company", OSE ticker code: "HAFNI", NYSE ticker code: "HAFN") on December 2, 2024, of the launch of Hafnia’s program to repurchase up to 18,000,000 of the Company’s shares in open market transactions for a total amount of up to USD 100,000,000 during the period from December 2, 2024, until no later than January 27, 2025, pursuant to an agreement with Pareto Securities AS and its subsidiary, Pareto Securities Inc. (together, "Pareto").

For the period from and including December 16, 2024, through December 20, 2024, the Company purchased a total of 3,258,014 shares at an average price USD 5.18 per share. Please find below for an transaction overview.

Date	Trading Venue	Aggregated daily volume (number of shares)	Weighted average share price (USD)	Total daily transaction value (USD)
Dec 16, 2024	OSE	280,000	5.32	1,490,309
Dec 16, 2024	NYSE	381,316	5.31	2,023,911
Dec 17, 2024	OSE	300,000	5.11	1,534,133
Dec 17, 2024	NYSE	410,000	5.17	2,120,602
Dec 18, 2024	OSE	230,000	5.18	1,190,413
Dec 18, 2024	NYSE	390,000	5.23	2,039,349
Dec 19, 2024	OSE	265,603	5.14	1,364,888
Dec 19, 2024	NYSE	390,000	5.15	2,007,798
Dec 20, 2024	OSE	234,397	5.05	1,184,141
Dec 20, 2024	NYSE	376,698	5.12	1,927,262
Period total
	OSE	1,310,000	5.16	6,763,885
	NYSE	1,948,014	5.19	10,118,922
	Total	3,258,014	5.18	16,882,807
Previously disclosed buy-back under the program (accumulated)
	OSE	2,450,000	5.45	13,347,592
	NYSE	3,428,684	5.50	18,852,582
	Total	5,878,684	5.48	32,200,174
Accumulated under the buy-back program
	OSE	3,760,000	5.35	20,111,477
	NYSE	5,376,698	5.39	28,971,504
	Total	9,136,698	5.37	49,082,981

The issuer's holding of repurchased shares:

Following the completion of the above transactions, the Company owns a total of 9,639,056 of its own shares, corresponding to 1.88% of Hafnia’s total issued share count.

Appendix:

An overview of all transactions made under the program that have been carried out during the above-mentioned period is attached to this report and available at www.newsweb.no.

This information is subject of the disclosure requirements pursuant to section 5-12 of the Norwegian Securities Trading Act and article 5 of the European Market Abuse Regulation.

About Hafnia Limited:

Hafnia is one of the world's leading tanker owners, transporting oil, oil products and chemicals for major national and international oil companies, chemical companies, as well as trading and utility companies.

As owners and operators of around 200 vessels, we offer a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker procurement desk. Hafnia has offices in Singapore, Copenhagen, Houston, and Dubai and currently employs over 4000 employees onshore and at sea.

Hafnia is part of the BW Group, an international shipping group involved in oil and gas transportation, floating gas infrastructure, environmental technologies, and deep-water production for over 80 years.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241222713832/en/

For further information:

Mikael Skov

CEO Hafnia Limited

+65 8533 8900

Source: Hafnia Limited

FAQ

How many shares has Hafnia (HAFN) bought back between December 16-20, 2024?

Hafnia bought back 3,258,014 shares during December 16-20, 2024, at an average price of $5.18 per share.

What is the total value of Hafnia's (HAFN) current share buyback program?

Hafnia's current share buyback program has a total value of up to $100 million, allowing for the repurchase of up to 18 million shares.

When does Hafnia's (HAFN) current share buyback program end?

Hafnia's current share buyback program runs from December 2, 2024, until January 27, 2025.

How much of Hafnia's (HAFN) share buyback program has been completed so far?

As of December 20, 2024, Hafnia has completed $49.1 million worth of share buybacks, representing 49.1% of the total program.

What percentage of Hafnia's (HAFN) total shares does the company now own through buybacks?

Following the latest transactions, Hafnia owns 9,639,056 of its own shares, representing 1.88% of its total issued share count.