TORM plc Closes Secondary Share Offering, Seller Exits Holdings
Shipping company TORM plc has closed a previously announced secondary public offering of 6.3 million Class A common shares. The seller, an entity linked to Oaktree Capital Management, no longer holds any shares in TORM.
TORM plc announced the closing of its previously announced secondary public offering, which involved the sale of 6,329,874 Class A common shares. The transaction reduces the holding of the selling shareholder to zero.
The shares were sold by OCM Njord Holdings S.à r.l., an entity indirectly owned by funds managed by Oaktree Capital Management. Following the completion of this offering, the selling shareholder no longer beneficially owns any of TORM plc’s Class A common shares. TORM plc itself did not sell any shares in this offering.
The divestment marks a complete exit from TORM's Class A common shares by the Oaktree-affiliated entity. This move could indicate a strategic shift for the investment firm or the maturity of their investment.
TORM plc is an international shipping company engaged in the operation of dry bulk vessels. The company's shares are listed on the Nasdaq stock exchange.