TORM plc announces closing of secondary public offering of its class A common shares

A major shareholder in TORM has reduced its stake via a 9 million-share secondary offering that does not dilute existing investors.

Rhea-AI Summary

TORM (TRMD) has closed a previously announced secondary public offering of 9,000,000 Class A common shares sold by OCM Njord Holdings S.à r.l., an entity indirectly owned by Oaktree-managed funds.

After the sale, the selling shareholder holds about 11.06% of TORM’s Class A shares and has granted the underwriter a 30‑day option to buy up to 1,350,000 additional shares. TORM did not issue any new shares and will not receive proceeds. J.P. Morgan Securities LLC acted as sole underwriter, and the offering was conducted under an effective SEC shelf registration.

Positive

• 9,000,000 shares sold by existing holder with no new shares issued
• Company receives no dilution as it did not sell any shares in the offering

Negative

• Large shareholder reduced stake to 11.06%, signalling potential ongoing selling pressure
• Underwriter holds a 30-day option for up to 1,350,000 additional shares, adding potential supply

Market Context

The prior offering pricing and launch notices each recorded a -1.16% 24-hour reaction, providing dir...

Analysis

The prior offering pricing and launch notices each recorded a -1.16% 24-hour reaction, providing directly comparable context for this closing announcement, which confirmed no company-issued shares or proceeds.

Key Figures

Shares offered: 9,000,000 Class A common shares Selling shareholder ownership: 11.06% Underwriter option: 1,350,000 Class A common shares

Shares offered

9,000,000 Class A common shares

Secondary public offering

Selling shareholder ownership

11.06%

Following the offering

Underwriter option

1,350,000 Class A common shares

30-day option

Previous Offering Reports

2 past events · Latest: Sep 15

Same Type 2 events

1. Sep 15

   Offering pricing

   24h Move

   -1.2%

   Pricing of the same 9,000,000-share secondary offering with no company proceeds.

2. Sep 14

   Offering launch

   24h Move

   -1.2%

   Launch of the same 9,000,000-share secondary offering by Oaktree's selling affiliate.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Key Terms

secondary public offering, beneficially owns, underwriter, shelf registration statement

4 terms

secondary public offering financial

"closing of the previously announced secondary public offering of 9,000,000"

A secondary public offering is when a company sells additional shares to the public after its initial sale, often to raise more money or allow early investors to cash out. For investors, it can impact the stock's price by increasing the number of shares available, potentially making the stock more or less valuable depending on demand.

beneficially owns regulatory

"the Selling Shareholder beneficially owns approximately 11.06%"

Beneficially owns means a person or entity enjoys the economic benefits and control of a security even if the legal title or registration is held in another name. Think of it like having the keys and profits from a car that is registered to a friend: you use it, benefit from it, and make decisions about it even though the official paperwork lists someone else. For investors, this matters because it reveals who truly controls shares, affects voting power, potential conflicts of interest, and regulatory disclosure obligations.

underwriter financial

"The Selling Shareholder also granted the underwriter a 30-day option"

An underwriter is a financial firm that evaluates, guarantees and helps sell a new security offering—such as a stock or bond—by buying the issue from the issuer and reselling it to investors or organizing the sale. Think of them as a bridge or safety net: they take on the risk, set the price, handle marketing and paperwork, and their work determines how much money a company can raise and how smoothly the offering reaches the market.

View in glossary

shelf registration statement regulatory

"A shelf registration statement relating to the offering"

A shelf registration statement is a document a company files with regulators that allows it to sell shares or bonds quickly when it’s a good time to raise money. It’s like having a pre-approved plan ready so the company can act fast without going through lengthy paperwork each time they want to sell, making fundraising more flexible.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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HELLERUP, Denmark, Sept. 16, 2026 /PRNewswire/ -- TORM plc (the "Company" or "TORM") (NASDAQ: TRMD) (NASDAQ: TRMD A) today announces the closing of the previously announced secondary public offering of 9,000,000 of the Company's Class A common shares by OCM Njord Holdings S.à r.l. (the "Selling Shareholder"), a company indirectly owned by funds managed by Oaktree Capital Management, L.P. and its affiliates. Following the offering, the Selling Shareholder beneficially owns approximately 11.06% of the Company's Class A common shares. The Selling Shareholder also granted the underwriter a 30-day option to purchase up to an additional 1,350,000 Class A common shares offered in this offering. The Company did not sell any Class A common shares and did not receive any proceeds from the offering. 

J.P. Morgan Securities LLC acted as sole underwriter for the offering. The offering was made only by means of a prospectus supplement and accompanying base prospectus related to the offering, copies of which may be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, Email: prospectus-eq_fi@jpmchase.com.

This company announcement does not constitute an offer to sell or a solicitation of an offer to buy the securities described herein and there shall not be any sale of these securities in any state or other jurisdiction in which such an offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. A shelf registration statement relating to the offering of the Class A common stock was filed with the U.S. Securities and Exchange Commission and is effective.

Contact
Mikael Bo Larsen, Head of Investor Relations
Tel.: +45 5143 8002

About TORM

TORM is one of the world's leading carriers of refined oil products. TORM operates a fleet of product tanker vessels with a strong commitment to safety. environmental responsibility and customer service. TORM was founded in 1889 and conducts business worldwide. TORM's shares are listed on Nasdaq in Copenhagen and on Nasdaq in New York (NASDAQ: TRMD A) (NASDAQ: TRMD) (ISIN: GB00BZ3CNK81). For further information, please visit www.torm.com.

Safe Harbor Statement as to the Future

Matters discussed in this release may constitute forward-looking statements. The Private Securities Litigation Reform Act of 1995 provides safe harbor protections for forward-looking statements in order to encourage companies to provide prospective information about their business. Forward-looking statements reflect our current views with respect to future events and financial performance and may include statements concerning plans, objectives, goals, strategies, future events or performance, and underlying assumptions and other statements, which are statements other than statements of historical facts. The Company desires to take advantage of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 and is including this cautionary statement in connection with this safe harbor legislation. Words such as, but not limited to, "expects," "anticipates," "intends," "plans," "believes," "estimates," "targets," "projects," "forecasts," "potential," "continue," "possible," "likely," "may," "could," "should" and similar expressions or phrases may identify forward-looking statements.

The forward-looking statements in this release are based upon various assumptions, many of which are, in turn, based upon further assumptions, including without limitation, management's examination of historical operating trends, data contained in our records and other data available from third parties. Although the Company believes that these assumptions were reasonable when made, because these assumptions are inherently subject to significant uncertainties and contingencies that are difficult or impossible to predict and are beyond our control, the Company cannot guarantee that it will achieve or accomplish these expectations, beliefs, or projections.

Important factors that, in our view, could cause actual results to differ materially from those discussed in the forward-looking statements include, but are not limited to, our future operating or financial results; changes in governmental rules and regulations or actions taken by regulatory authorities; inflationary pressure and central bank policies intended to combat overall inflation and rising interest rates and foreign exchange rates; general domestic and international political conditions or events, including "trade wars" and the war between Russia and Ukraine, the developments in the Middle East, including the war in Israel and the Gaza Strip, and the conflict regarding the Houthis' attacks in the Red Sea; international sanctions against Russian oil and oil products; changes in economic and competitive conditions affecting our business, including market fluctuations in charter rates and charterers' abilities to perform under existing time charters; changes in the supply and demand for vessels comparable to ours and the number of new buildings under construction; the highly cyclical nature of the industry that we operate in; the loss of a large customer or significant business relationship; changes in worldwide oil production and consumption and storage; risks associated with any future vessel construction; our expectations regarding the availability of vessel acquisitions and our ability to complete acquisition transactions planned; availability of skilled crew members other employees and the related labor costs; work stoppages or other labor disruptions by our employees or the employees of other companies in related industries; effects of new products and new technology in our industry; new environmental regulations and restrictions; the impact of an interruption in or failure of our information technology and communications systems, including the impact of cyber-attacks, upon our ability to operate; potential conflicts of interest involving members of our Board of Directors and Senior Management; the failure of counterparties to fully perform their contracts with us; changes in credit risk with respect to our counterparties on contracts; adequacy of insurance coverage; our ability to obtain indemnities from customers; changes in laws, treaties or regulations; our incorporation under the laws of England and Wales and the different rights to relief that may be available compared to other countries, including the United States; government requisition of our vessels during a period of war or emergency; the arrest of our vessels by maritime claimants; any further changes in U.S. trade policy that could trigger retaliatory actions by the affected countries; the impact of the U.S. presidential and congressional election results affecting the economy, future government laws and regulations and trade policy matters, such as the imposition of tariffs and other import restrictions; potential disruption of shipping routes due to accidents, climate-related incidents, adverse weather and natural disasters, environmental factors, political events, public health threats, acts by terrorists or acts of piracy on ocean-going vessels; damage to storage and receiving facilities; potential liability from future litigation and potential costs due to environmental damage and vessel collisions; and the length and number of off-hire periods and dependence on third-party managers.

In the light of these risks and uncertainties, undue reliance should not be placed on forward-looking statements contained in this release because they are statements about events that are not certain to occur as described or at all. These forward-looking statements are not guarantees of our future performance, and actual results and future developments may vary materially from those projected in the forward-looking statements.

Except to the extent required by applicable law or regulation, the Company undertakes no obligation to release publicly any revisions or updates to these forward-looking statements to reflect events or circumstances after the date of this release or to reflect the occurrence of unanticipated events. Please see TORM's filings with the U.S. Securities and Exchange Commission for a more complete discussion of certain of these and other risks and uncertainties. The information set forth herein speaks only as of the date hereof, and the Company disclaims any intention or obligation to update any forward-looking statements as a result of developments occurring after the date of this communication.

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24-2026 - TORM plc announces closing of secondary public offering of its class A common shares

 

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SOURCE Torm PLC

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

Who sold the TORM shares in this secondary offering?

The 9,000,000 Class A common shares were sold by OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management and its affiliates.

Did TORM receive any proceeds from this secondary share sale?

No. TORM did not sell any Class A common shares in the transaction and therefore did not receive any proceeds from the offering.

What is the remaining ownership of the selling shareholder after the offering?

Following the completion of the offering, the selling shareholder beneficially owns approximately 11.06% of TORM’s Class A common shares.

What additional share option did the underwriter receive?

The selling shareholder granted the underwriter a 30-day option to purchase up to an additional 1,350,000 Class A common shares in connection with the offering.

Who acted as underwriter for the TORM secondary offering?

J.P. Morgan Securities LLC acted as the sole underwriter for the secondary public offering of TORM’s Class A common shares.

How could investors obtain the prospectus for this offering?

The offering was made only by means of a prospectus supplement and accompanying base prospectus, which could be obtained from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by email at prospectus-eq_fi@jpmchase.com.