TORM plc (Nasdaq: TRMD, TRMD A) has announced a secondary public offering of 9 million Class A common shares by OCM Njord Holdings S.à r.l., a company indirectly owned by funds managed by Oaktree Capital Management, L.P. and its affiliates.

The selling shareholder, which holds approximately 20% of TORM's Class A common shares prior to the offering, has also granted the underwriter a 30-day option to purchase up to an additional 1.35 million Class A common shares.

TORM will not sell any shares in the transaction and will not receive any proceeds from the offering. J.P. Morgan Securities LLC is acting as sole underwriter.

The offering is subject to market and other conditions, and no assurance was given as to whether or when it may be completed. A shelf registration statement related to the offering has been filed with the U.S. Securities and Exchange Commission and is effective.

TORM is a product tanker operator founded in 1889 and headquartered in Hellerup, Denmark. Its shares are listed on Nasdaq in New York and Copenhagen.