HAFNIA LIMITED: Transactions made under share buyback program

Rhea-AI Summary

Hafnia (NYSE: HAFN) has initiated a share buyback program to repurchase up to 18 million shares for a maximum of USD 100 million between December 2, 2024, and January 27, 2025. From December 2-6, 2024, the company purchased 2,780,000 shares at an average price of USD 5.59 per share, totaling USD 15.5 million.

The transactions were executed across both the Oslo Stock Exchange (OSE) and NYSE, with 1,240,000 shares purchased on OSE at an average price of USD 5.54 and 1,540,000 shares on NYSE at USD 5.63. Following these transactions, Hafnia owns 3,282,358 of its own shares, representing 0.64% of its total issued share count.

Positive

• Significant share buyback program of up to USD 100 million demonstrates strong financial position
• Quick execution with USD 15.5 million worth of shares already purchased in the first week
• Buyback program indicates management's confidence in company's value

Negative

• None.

Insights

Financial Analyst

The share buyback program demonstrates Hafnia's robust financial position and confidence in its stock value. The company has committed up to $100 million to repurchase 18 million shares, with $15.5 million already deployed in the first week at an average price of $5.59 per share. The program's execution across both OSE and NYSE shows strategic market approach and strong liquidity management. With only 0.64% of total shares repurchased so far, there's significant room for continued buybacks, which typically support share price by reducing float and increasing EPS. The timing and pricing of purchases indicate disciplined capital allocation, with daily volumes managed to minimize market impact while maximizing value.

Market Research Analyst

The systematic execution of the buyback across dual listings reveals sophisticated market engagement. Trading patterns show higher NYSE volumes, suggesting stronger U.S. market liquidity. Daily price variations from $5.27 to $5.84 indicate opportunistic buying strategy, with increased volumes on price dips. The program's short duration (December 2024 - January 2025) creates a concentrated buying pressure that could support share price stability. The 15.4% completion rate in just the first week signals strong commitment to the program. This aggressive pace, if maintained, could lead to early completion and potentially trigger positive market sentiment.

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 2, 2024, through December 6, 2024, the Company purchased a total of 2,780,000 shares at an average price of USD 5.59 per share. Please find below for a transaction overview.

Date	Trading Venue	Aggregated daily volume (number of shares)	Weighted average share price (USD)	Total daily transaction value (USD)
Dec 2, 2024	OSE	235,000	5.57	1,309,575
Dec 2, 2024	NYSE	380,000	5.62	2,134,498
Dec 3, 2024	OSE	220,000	5.69	1,252,469
Dec 3, 2024	NYSE	375,484	5.82	2,184,115
Dec 4, 2024	OSE	270,000	5.84	1,575,749
Dec 4, 2024	NYSE	384,516	5.81	2,235,461
Dec 5, 2024	OSE	250,000	5.33	1,332,820
Dec 5, 2024	NYSE	-	-	-
Dec 6, 2024	OSE	265,000	5.29	1,402,291
Dec 6, 2024	NYSE	400,000	5.27	2,109,320
Period total
	OSE	1,240,000	5.54	6,872,903
	NYSE	1,540,000	5.63	8,663,394
	Total	2,780,000	5.59	15,536,297
Previously disclosed buy-back under the program (accumulated)
	OSE	-	-	-
	NYSE	-	-	-
	Total	-	-	-
Accumulated under the buy-back program
	OSE	1,240,000	5.54	6,872,903
	NYSE	1,540,000	5.63	8,663,394
	Total	2,780,000	5.59	15,536,297

The issuer's holding of repurchased shares:

Following the completion of the above transactions, the Company owns a total of 3,282,358 of its own shares, corresponding to 0.64% 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/20241208787290/en/

For further information, please contact:

Mikael Skov

CEO Hafnia Limited

+65 8533 8900

Source: Hafnia Limited

FAQ

How many shares will Hafnia (HAFN) buy back in its current program?

Hafnia plans to repurchase up to 18 million shares for a maximum of USD 100 million between December 2, 2024, and January 27, 2025.

What is the average price Hafnia (HAFN) paid for shares in December 2-6, 2024?

Hafnia paid an average price of USD 5.59 per share during December 2-6, 2024, purchasing a total of 2,780,000 shares.

How many shares does Hafnia (HAFN) own after the recent buyback transactions?

After the recent buyback transactions, Hafnia owns 3,282,358 of its own shares, representing 0.64% of its total issued share count.