TORM Announces Secondary Offering by Selling Shareholder
TORM plc has announced a secondary public offering of its Class A common shares totaling approximately 6.3 million, initiated by OCM Njord Holdings S.à r.l., an entity indirectly owned by Oaktree Capital Management GP, LLC and affiliates. The selling shareholder currently owns about 6% of the company's Class A shares before this offering. TORM is not involved in the sale or receiving any proceeds from it. J.P. Morgan Securities LLC serves as the sole underwriter for the transaction, which will be offered at a fixed price subject to change without notice. The offering relies on an effective shelf registration statement with the SEC and requires compliance with applicable securities laws across jurisdictions. This announcement does not constitute an offer or solicitation in any jurisdiction where it would be unlawful. TORM is one of the world's leading refined oil product carriers, operating a fleet committed to safety and environmental responsibility.
Tickers: $TRMD
Topics: secondary market transaction stock offering underwriting