tiprankstipranks
Trending News
More News >
Advertisement
Advertisement

Hafnia to Acquire Significant Stake in TORM plc

Story Highlights
Hafnia to Acquire Significant Stake in TORM plc

Elevate Your Investing Strategy:

  • Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence.

Hafnia ( (HAFN) ) has provided an announcement.

Hafnia Limited has announced its intention to acquire approximately 14.1 million A shares in TORM plc, representing about 14.45% of TORM’s issued share capital, for a total purchase price of $311.4 million. This investment reflects Hafnia’s belief in TORM’s management and fleet quality, and the potential positive impact of consolidation in the tanker industry. However, the completion of this share purchase is contingent upon entering a definitive agreement and fulfilling customary conditions, including regulatory approvals and the appointment of a new independent board chair for TORM.

The most recent analyst rating on (HAFN) stock is a Hold with a NOK65.00 price target. To see the full list of analyst forecasts on Hafnia stock, see the HAFN Stock Forecast page.

More about Hafnia

Hafnia is a leading global tanker owner, specializing in the transportation of oil, oil products, and chemicals for major national and international oil, chemical, trading, and utility companies. The company operates around 200 vessels and offers a fully integrated shipping platform, including technical management, commercial and chartering services, pool management, and a large-scale bunker procurement desk. Hafnia is part of the BW Group and has offices in Singapore, Copenhagen, Houston, and Dubai, employing over 4000 people.

Average Trading Volume: 650,149

Current Market Cap: NOK30.77B

For a thorough assessment of HAFN stock, go to TipRanks’ Stock Analysis page.

Disclaimer & DisclosureReport an Issue

Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App
1