Hafnia stock falls after increasing stake in Torm to 19.85%

Investing.com -- Hafnia Ltd (NYSE: HAFN) shares dropped 4.5% Thursday after the company announced it would acquire additional shares in Torm PLC Class A (NASDAQ: TRMD).

The tanker owner agreed to purchase 1,700,000 A shares in TORM at $34.00 per share, representing 1.66% of TORM's issued and outstanding share capital. Following the transaction, Hafnia's stake in TORM will reach approximately 19.85%.

Hafnia operates as one of the world's leading tanker owners, transporting oil, oil products and chemicals. The company owns and operates around 180 vessels.

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