Hafnia Clears Conditions to Take 13.97% Stake in TORM

Hafnia ( (HAFN) ) has shared an announcement.

Hafnia Limited has confirmed that all conditions have been met for the completion of its previously announced purchase of approximately 14.1 million A-shares in Danish tanker operator TORM plc from funds managed by Oaktree Capital Management. Following TORM’s recent share capital increase, the stake will amount to about 13.97% of TORM’s issued share capital as of today, giving Hafnia a sizeable minority position in a key industry peer and potentially strengthening its strategic influence and exposure within the product tanker market once the transaction closes, which the company expects to occur shortly.

The most recent analyst rating on (HAFN) stock is a Buy with a NOK68.00 price target. To see the full list of analyst forecasts on Hafnia stock, see the HAFN Stock Forecast page.

More about Hafnia

Hafnia Limited is one of the world’s leading tanker owners, transporting crude oil, refined oil products and chemicals for major national and international oil, chemical, trading and utility companies. Operating a fleet of around 200 vessels, the company provides an integrated shipping platform encompassing technical management, commercial and chartering services, pool management and large-scale bunker procurement, with operations run from offices in Singapore, Copenhagen, Houston and Dubai as part of the BW Group’s global shipping portfolio.

Average Trading Volume: 677,683

Current Market Cap: NOK28.48B

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