Hellerup – September 17, 2026 -- TORM plc has launched a secondary public offering of 9,000,000 Class A common shares on behalf of OCM Njord Holdings S.à r.l., a vehicle indirectly owned by funds managed by Oaktree Capital Management, L.P.
Oaktree-linked seller holds roughly 20% of TORM's Class A shares before the sale
OCM Njord Holdings currently owns approximately 20% of TORM's Class A common shares. The selling shareholder is expected to grant the underwriter a 30-day option to purchase up to an additional 1,350,000 shares, which could lift the total offering size to 10,350,000 shares.
TORM will not receive proceeds as the sale is entirely secondary
The Nasdaq-listed product tanker operator (TRMD, TRMD A) is not selling any shares itself and will not collect proceeds from the transaction. J.P. Morgan Securities LLC is acting as sole underwriter, offering the shares to the public at a fixed price that may be adjusted without notice.
Deal proceeds under an effective SEC shelf registration
The offering will be executed via a prospectus supplement and accompanying base prospectus tied to a shelf registration statement already filed with and declared effective by the U.S. Securities and Exchange Commission. TORM cautioned that completion of the offering remains subject to market and other conditions, with no guarantee on timing or execution.