TORM Announces Secondary Offering by Selling Shareholder
TORM plc has announced a secondary public offering of nine million Class A common shares, to be sold by OCM Njord Holdings S.à r.l., an indirect affiliate of Oaktree Capital Management. The underwriter may also purchase up to an additional one million three hundred fifty thousand shares within 30 days if needed. This sale is separate from the company itself and will not result in any proceeds for TORM, as it is a shareholder-initiated offering. The Selling Shareholder currently holds approximately 20% of TORM's Class A common stock before this transaction. J.P. Morgan Securities LLC serves as sole underwriter and plans to offer shares at a fixed price that may change without notice. The sale will be conducted via prospectus supplements, with registration already filed and effective. TORM is one of the world’s leading refined oil product carriers, operating globally since 1889.
Tickers: $TRMD
Topics: corporate finance secondary market transaction stock offering