Oaktree-Linked Fund Starts Sale Of 6,329,874 TORM Shares; Company Gets No Proceeds
TORM said it is selling nothing in the secondary offering, which J.P. Morgan Securities is running as sole underwriter.
A fund company tied to Oaktree began a secondary offering of 6,329,874 TORM Class A common shares on Monday, according to a company statement furnished to the SEC. TORM said it is selling no shares and will receive no proceeds.
What the announcement says
The seller is OCM Njord Holdings S.à r.l., which TORM describes as a company indirectly owned by funds indirectly managed by Oaktree Capital Management GP, LLC and its affiliates. TORM called it the "Selling Shareholder."
Before the offering, that holder beneficially owns approximately 6% of TORM's Class A common shares, the statement says. The company said it is not selling any Class A shares itself.
J.P. Morgan Securities LLC is the sole underwriter. It intends to offer the shares to the public at a fixed price, which the statement says may be changed at any time without notice.
The statement was dated October 5, 2026, and is numbered Company Announcement No. 31. It says a shelf registration statement for the Class A stock was filed with the SEC and is effective.
What it changes for holders
Because TORM is not the seller, the offering moves existing shares from one holder to the public. The company gets no money from it, according to the statement.
Market data put TORM's market value across all its shares at $4.1 billion. That is the base against which the roughly 6% stake sits.
In Monday after-hours trading, TRMD shares were at $40.00, down 2.56% from the regular close of $41.05. That reading comes with lighter after-hours volume, so treat it as early and indicative.
What to watch
The statement says the offering is subject to market and other conditions, and that there can be no assurance as to whether or when it is completed.
It will be made only through a prospectus supplement and accompanying base prospectus. Copies, when available, can be requested from J.P. Morgan Securities LLC, c/o Broadridge Financial Solutions, at the addresses given in the statement.
The statement gives no completion date, so the next concrete step is the prospectus supplement from J.P. Morgan Securities.
