HAFNIA LIMITED: Transactions Made Under Share Buyback Program

Rhea-AI Summary

Hafnia (NYSE: HAFN) reported no share purchases during January 13-17, 2025, as part of its previously announced share buyback program. The program, launched on December 2, 2024, allows for the repurchase of up to 18 million shares with a maximum value of USD 100 million through January 27, 2025. The buyback is being executed through Pareto Securities AS and its subsidiary.

Hafnia operates as a leading global tanker owner with approximately 200 vessels, providing integrated shipping services including technical management, commercial and chartering services, pool management, and bunker procurement. The company employs over 4,000 people across offices in Singapore, Copenhagen, Houston, and Dubai, and is part of the BW Group.

Positive

• Authorization of substantial USD 100 million share buyback program
• Large fleet of approximately 200 vessels indicates strong market position
• Diversified global presence with offices in major maritime hubs

Negative

• No shares repurchased during the reported period, potentially indicating unfavorable market conditions or timing

Insights

Financial Analyst

The share buyback program update from Hafnia reveals a temporary pause in repurchase activity during the January 13-17 period, within their broader $100 million initiative targeting up to 18 million shares. While buybacks typically signal management's confidence and return value to shareholders, this week's inactivity could indicate either strategic timing, price sensitivity, or regulatory window limitations.

The program's scope, representing approximately 3.5% of Hafnia's current market capitalization, demonstrates a meaningful commitment to capital return. However, the absence of purchases during this period suggests careful execution management, possibly waiting for optimal price points or managing daily volume restrictions. For context, shipping companies often implement buybacks during strong cash flow periods, which aligns with the current robust tanker market conditions.

Simple explanation: Think of a share buyback like a company buying back its own puzzle pieces (shares) from the market. When they buy back shares, each remaining piece becomes more valuable because there are fewer pieces in total. This week, they didn't buy any pieces, but they still have money set aside to buy more before the program ends on January 27, 2025.

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 January 13, 2025, through January 17, 2025, the Company did not purchase any shares.

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/20250119722909/en/

For further information, please contact:



Mikael Skov

CEO Hafnia Limited

+65 8533 8900

Source: Hafnia Limited

FAQ

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

Hafnia's share buyback program allows for repurchases up to USD 100 million, running from December 2, 2024, until January 27, 2025.

How many shares can Hafnia (HAFN) repurchase under the current buyback program?

Hafnia can repurchase up to 18 million shares under the current buyback program.

Did Hafnia (HAFN) purchase any shares between January 13-17, 2025?

No, Hafnia did not purchase any shares during the period from January 13 through January 17, 2025.

Which financial institutions are executing Hafnia's (HAFN) share buyback program?

Pareto Securities AS and its subsidiary, Pareto Securities Inc., are executing Hafnia's share buyback program.

How many vessels does Hafnia (HAFN) currently operate in its fleet?

Hafnia operates approximately 200 vessels in its fleet.