Oaktree sells $253.5M in TORM shares via secondary offering

TORM plc (NASDAQ: TRMD) announced the pricing of a secondary public offering of 6,329,874 Class A common shares by OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management GP, LLC and its affiliates.

The offering is expected to generate gross proceeds of approximately $253.5 million for the selling shareholder. TORM will not receive any proceeds from the sale. The offering was expected to close on October 7, 2026.

Prior to the offering, the selling shareholder held approximately 6% of TORM's Class A common shares. J.P. Morgan Securities LLC is acting as sole underwriter for the transaction.

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