TORM plc announced the commencement of a secondary public offering of 9,000,000 Class A common shares by selling shareholder OCM Njord Holdings S.à r.l., an entity indirectly owned by funds managed by Oaktree Capital Management, L.P. The selling shareholder holds approximately 20% of the company's Class A common shares prior to this transaction. J.P. Morgan Securities LLC is acting as sole underwriter for the offering at a fixed public price. The underwriter has been granted a 30-day option to purchase up to an additional 1,350,000 shares. TORM plc itself is not selling any shares and will not receive proceeds from this transaction. This company operates in the maritime shipping industry as one of the world’s leading carriers of refined oil products.
