TORM plc announces closing of secondary public offering of its class A common shares
TORM plc closed the previously announced secondary public offering of 9,000,000 Class A common shares, all sold by OCM Njord Holdings, a company indirectly owned by funds managed by Oaktree Capital Management. The company itself sold no shares and received no proceeds, so the deal carries no dilution or balance-sheet impact for TORM. The selling shareholder retains approximately 11.06% of Class A shares, and the underwriter holds a 30-day option on up to 1,350,000 additional shares, leaving the door open to further supply. J.P.
Key figures
- Shares Offered
- 9000000
- Company proceeds
- 0
- Underwriter option shares
- 1350000
- Underwriter option window
- 30-day
- Selling shareholder remaining stake
- approximately 11.06% of Class A common shares
AI analysis
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