Hafnia buys another 1.7 million TORM shares

Hafnia ($HAFN) agreed to acquire an additional 1.7 million TORM ($TRMD) Class A shares at $34 each, increasing its investment in the product-tanker operator. The shares represent approximately 1.66% of TORM’s outstanding capital. Once the purchase closes, Hafnia expects its total ownership to reach 19.85%, extending an already substantial minority holding.

The purchase will be funded with available cash and credit facilities. It is an acquisition of existing shares rather than a new equity issue raising money for TORM. Although the larger position strengthens Hafnia’s economic exposure to the company, this announcement does not establish a merger, takeover agreement or controlling interest. It is a separate incremental purchase, not a repetition of the larger block acquisition disclosed previously.

Sources:

• Hafnia — additional TORM share purchase