TORM plc Announces Secondary Offering of Class A Shares by Selling Shareholder
TORM plc announced the commencement of a secondary public offering where OCM Njord Holdings S.à r.l. will sell 9 million Class A common shares. The selling shareholder may also sell up to an additional 1.35 million shares.
Shipping company TORM plc has announced the start of a secondary public offering, during which OCM Njord Holdings S.à r.l. will sell 9 million Class A common shares. This selling shareholder is indirectly owned by funds managed by Oaktree Capital Management.
The selling shareholder also has a 30-day option to purchase up to an additional 1.35 million Class A common shares, which would be offered in the current offering. The offering is contingent upon market conditions.
No specific details regarding the valuation or the timeline for the completion of the offering were provided in the announcement. The company's shares are traded on the Nasdaq stock exchange under the symbols TRMD and TRMD A.
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