Oaktree exits TORM stake via 6.3 million share secondary offering

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

Following the transaction, the selling shareholder no longer holds any beneficial ownership of TORM's Class A common shares. TORM did not sell any shares in the offering and received no proceeds from the transaction.

J.P. Morgan Securities LLC acted as sole underwriter for the offering. The shares were offered pursuant to a prospectus supplement and accompanying base prospectus filed under a shelf registration statement with the U.S. Securities and Exchange Commission.

TORM is a product tanker operator founded in 1889 and headquartered in Hellerup, Denmark. Its shares are listed on Nasdaq in New York and Nasdaq in Copenhagen under the ticker TRMD.

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