Oaktree sells 9 million Torm shares for $290 million in secondary offering

OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management, L.P., has priced a secondary public offering of 9 million Class A common shares of TORM plc (NASDAQ: TRMD, NASDAQ: TRMD A), generating gross proceeds of approximately $290.25 million.

The selling shareholder held approximately 20% of TORM's Class A common shares prior to the offering. TORM is not selling any shares in the transaction and will not receive any proceeds from the sale.

The selling shareholder has granted the sole underwriter, J.P. Morgan Securities LLC, a 30-day option to purchase up to an additional 1.35 million Class A common shares. The offering was expected to close on September 16, 2026.

The offering is being made by means of a prospectus supplement and accompanying base prospectus. A shelf registration statement related to the offering was filed with the U.S. Securities and Exchange Commission and is effective.

TORM, headquartered in Hellerup, Denmark, operates a fleet of product tanker vessels and has been in business since 1889. Its shares are listed on Nasdaq in both Copenhagen and New York.

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