Hafnia Limited (HAFN) shares rose Wednesday in premarket trading after the tanker operator agreed to acquire an additional 4.5 million shares of TORM plc (TRMD).

S&P 500 futures were up about 0.2%, while Nasdaq futures also pointed higher.

Hafnia Raises TORM Stake To 18.22%

Hafnia agreed to acquire 4.5 million TORM A shares at $32.25 per share.

The shares represent 4.39% of TORM's issued and outstanding share capital.

Upon completion, Hafnia will hold approximately 18.22% of TORM.

The latest purchase builds on Hafnia's September 2025 agreement to acquire about 14.1 million TORM shares from Oaktree for $311.43 million, or $22 per share.

Hafnia later completed that acquisition in December 2025, with the acquired shares representing approximately 13.97% of TORM's issued share capital at the time.

TORM operates in the tanker industry, aligning the investment with Hafnia's core shipping business.

Hafnia transports oil, refined products, and chemicals for oil companies, chemical companies, trading firms, and utilities.

HAFN Technical Outlook: Momentum Stays Strong

HAFN's technical setup remains strong but increasingly stretched.

The stock trades 11.3% above its 20-day SMA and 31.5% above its 200-day SMA.

The 20-day SMA remains above the 50-day SMA, while the 50-day remains above the 200-day SMA, maintaining a bullish trend structure.

However, the Relative Strength Index stands at 73.60, signaling overbought conditions and an increased risk of consolidation or a pullback.

The stock is also trading slightly above its previous 52-week high zone near $9.60. Key support sits around $8.00.

HAFN Price Action: Hafnia shares were up 1.16% at $9.59 during premarket trading on Wednesday. The stock is trading near its 52-week high of $9.59, according to market data.