HAFNIA LIMITED: Transactions made under share buyback program

Rhea-AI Summary

Hafnia (NYSE: HAFN) has provided an update on its share buyback program announced on December 2, 2024. From December 9-13, 2024, the company purchased 3,098,684 shares at an average price of $5.38 per share, totaling $16.66 million. The transactions were executed across both the OSE and NYSE platforms.

The cumulative buyback under the program now stands at 5,878,684 shares at an average price of $5.48, totaling $32.2 million. Following these transactions, Hafnia owns 6,381,042 of its own shares, representing 1.24% of its total issued share count. The program, capped at 18 million shares or $100 million, will continue until January 27, 2025.

Positive

• Strong execution of share buyback program with $32.2M already deployed
• Company demonstrates financial strength with $100M buyback commitment
• Balanced acquisition strategy across NYSE and OSE markets showing good liquidity

Negative

• Share buyback reduces cash available for operations or growth initiatives

Insights

Financial Analyst

The share buyback program's execution shows strong implementation with $16.66M worth of shares purchased in the latest week at an average price of $5.38. Total buybacks have reached $32.2M, representing about 32.2% of the $100M authorization. The company's strategic dual-market approach (NYSE and OSE) demonstrates liquidity management across exchanges. With 1.24% of shares now held in treasury, this represents meaningful progress toward capital return goals. The steady execution pace suggests confidence in the company's valuation and commitment to shareholder returns, while maintaining flexibility with significant remaining authorization.

Market Research Analyst

The systematic execution of Hafnia's buyback program, acquiring shares at an average price of $5.38, reflects strong market positioning in the tanker sector. The timing aligns with industry strength in oil and product tanker markets. The company's ability to execute large daily volumes while maintaining price stability across both NYSE and OSE indicates robust market liquidity and investor interest. The $100M program size, representing about 3.6% of market cap, signals management's confidence in company fundamentals and commitment to capital return optimization.

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 9, 2024, through December 13, 2024, the Company purchased a total of 3,098,684 shares at an average price USD 5.38 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 9, 2024	OSE	262,367	5.30	1,389,417
Dec 9, 2024	NYSE	380,000	5.33	2,025,020
Dec 10, 2024	OSE	197,633	5.38	1,062,513
Dec 10, 2024	NYSE	380,000	5.48	2,083,008
Dec 11, 2024	OSE	270,000	5.43	1,466,425
Dec 11, 2024	NYSE	371,497	5.43	2,017,675
Dec 12, 2024	OSE	215,133	5.34	1,147,757
Dec 12, 2024	NYSE	372,336	5.36	1,996,912
Dec 13, 2024	OSE	264,867	5.32	1,408,578
Dec 13, 2024	NYSE	384,851	5.37	2,066,573
Period total
	OSE	1,210,000	5.35	6,474,689
	NYSE	1,888,684	5.39	10,189,188
	Total	3,098,684	5.38	16,663,877
Previously disclosed buy-back under the program (accumulated)
	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
Accumulated under the buy-back program
	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

The issuer's holding of repurchased shares:

Following the completion of the above transactions, the Company owns a total of 6,381,042 of its own shares, corresponding to 1.24% 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/20241215997033/en/

For further information, please contact:

Mikael Skov

CEO Hafnia Limited

+65 8533 8900

Source: Hafnia Limited

FAQ

How many shares has Hafnia (HAFN) bought back between December 9-13, 2024?

Hafnia bought back 3,098,684 shares between December 9-13, 2024, at an average price of $5.38 per share, totaling $16.66 million.

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

Hafnia's current share buyback program is capped at 18 million shares or $100 million, running from December 2, 2024, to January 27, 2025.

What percentage of shares does Hafnia (HAFN) own after recent buybacks?

Following the recent buybacks, Hafnia owns 6,381,042 of its own shares, representing 1.24% of its total issued share count.

How much has Hafnia (HAFN) spent in total on its current buyback program?

Hafnia has spent a total of $32.2 million on its current buyback program, purchasing 5,878,684 shares at an average price of $5.48.

On which exchanges is Hafnia (HAFN) conducting its share buybacks?

Hafnia is conducting its share buybacks on both the Oslo Stock Exchange (OSE) and the New York Stock Exchange (NYSE).