Hafnia Ltd Launches Direct Public Offering of Ordinary Shares

Hafnia Ltd (NYSE: HAFN) Preliminary Prospectus Supplement Analysis

Transaction Summary

Hafnia Ltd filed a preliminary prospectus supplement on Form 424B5 relating to a registered direct offering of its ordinary shares (no par value) directly to investors under its effective Form F-3ASR shelf registration statement (File No. 333-287637).

Key Offering Details

• Security: Ordinary Shares, no par value.
• Pricing & Size: The number of shares and public offering price were left subject to completion. For market context, the closing prices on September 22, 2026, were $9.71 on the New York Stock Exchange and NOK 94.70 on the Oslo Stock Exchange.
• Placement Agents: Fearnley Securities AS and Pareto Securities AS are acting as Joint Global Coordinators; Clarksons Securities AS and Arctic Securities AS serve as Joint Bookrunners.
• Placement Fees: Hafnia has agreed to pay a base cash commission of 2.50% of gross proceeds, plus an incentive fee of 1.00% (if proceeds are ≤$150 million) or 0.75% (if proceeds exceed $150 million).

Market & Trading Impact

• Dilution Risk: The issuance of new equity shares may create short-term share price dilution depending on total volume priced.
• Capital Allocation: Net proceeds are slated to be deployed in line with the company's growth, fleet management, and general corporate strategy.