TORM plc Prices Secondary Offering of Common Shares
Tanker company TORM plc has priced a secondary public offering of 6,329,874 Class A common shares. The sale by OCM Njord Holdings S.à r.l. is expected to generate approximately $253.5 million in gross proceeds for the seller.
TORM plc, a global tanker company, announced the pricing of a secondary public offering of 6,329,874 of its Class A common shares. The shares are being sold by OCM Njord Holdings S.à r.l., an entity indirectly owned by funds managed by Oaktree Capital Management GP, LLC.
The offering is expected to result in gross proceeds of approximately $253.5 million for the selling shareholder. The company stated the offering was expected to close on a specific date, which was not detailed in the release.
This secondary offering indicates a shift in ownership from the Oaktree Capital Management-affiliated entity. TORM plc operates a fleet of vessels transporting crude oil and refined petroleum products worldwide.