Oaktree unit launches secondary offering of 6.3M TORM shares

OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management GP, LLC, has commenced a secondary public offering of 6,329,874 Class A common shares of TORM plc (NASDAQ: TRMD), a Denmark-based product tanker company.

The selling shareholder holds approximately 6% of TORM's Class A common shares prior to the offering. TORM will not sell any shares in the transaction and will not receive any proceeds from the sale.

J.P. Morgan Securities LLC is acting as sole underwriter for the offering and intends to offer the shares at a fixed price, which may be changed at any time without notice.

The offering is subject to market and other conditions, and there is no assurance as to whether or when it may be completed. A shelf registration statement related to the offering has been filed with and declared effective by the U.S. Securities and Exchange Commission.

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