TORM plc announced a secondary public offering of 6,329,874 Class A common shares by OCM Njord Holdings, a shareholder indirectly managed by Oaktree Capital. The sale is expected to raise about $253.5 million for the selling shareholder, but TORM itself is not selling shares and will receive no proceeds. The offering is underwritten by J.P. Morgan Securities and expected to close on October 7, 2026. This move allows the shareholder to liquidate part of its stake without diluting TORM's shares or raising new capital for the company.
TORM plc's shares have a notable dividend yield of 10.77%, attracting income-focused investors. As of October 6, 2026, 19:32 WIB, the stock trades at USD 39.71 on Pluang with a market cap of $4.05 billion. Despite the recent secondary offering by a major shareholder, the stock experienced a 3.26% decline in one day, with a volume of 2,333,558 shares traded, indicating active market participation.
