TORM plc: OCM Njord Holdings Initiates Share Offering
TORM plc announced that a shareholder, OCM Njord Holdings S.à r.l., has commenced a secondary public offering of shares. The company is not itself a party to the offering.
Tanker company TORM plc has announced that a shareholder, OCM Njord Holdings S.à r.l., has commenced a secondary public offering of the company's Class A common shares. The offering involves the sale of 6,329,874 shares. TORM itself is not a party to this offering; it is being conducted by the selling shareholder.
The selling shareholder, OCM Njord Holdings S.à r.l., is indirectly owned by funds managed by Oaktree Capital Management. Prior to the commencement of this offering, the entity held approximately 6% of TORM's Class A common shares. The completion of the offering is subject to market and other conditions.
TORM plc operates a fleet primarily composed of large and medium-sized crude oil tankers and product tankers. The company's shares are traded on the Nasdaq stock exchange under the tickers TRMD and TRMD A.