TORM Announces Completion of Secondary Public Offering by Oaktree-Backed Shareholder
TORM plc has completed a secondary public offering involving the sale of approximately six million Class A common shares by OCM Njord Holdings S.à r.l., an entity indirectly owned by funds managed by Oaktree Capital Management GP, LLC and its affiliates. The company did not sell any shares in this transaction nor receive proceeds from it. Following the offering, the selling shareholder no longer beneficially owns TORM's Class A common stock. J.P. Morgan Securities LLC served as the sole underwriter for the deal, which was conducted through a prospectus supplement and base prospectus. TORM remains focused on its operations in refined oil product transportation with an emphasis on safety, environmental responsibility, and customer service.
Tickers: $TRMD
Topics: public company announcement stock offering underwriting