TORM plc has announced the closing of its previously disclosed secondary public offering of 9 million Class A common shares. The shares were sold by OCM Njord Holdings S.à r.l., an entity indirectly owned by funds managed by Oaktree Capital Management, L.P. Following the transaction, Oaktree retains beneficial ownership of approximately 11.06% of TORM's Class A common shares. The selling shareholder also granted underwriters a 30-day option to purchase up to an additional 1.35 million Class A common shares. TORM did not issue or sell any shares in the transaction and received no proceeds from the offering.
Torm PLC Class AOaktree affiliate closed a 9M-share secondary offering of TORM Class A shares; TORM issued no shares and received no proceeds, so the company itself is unaffected.
