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home / news releases / TRMD - Torm stock rises after Oaktree withdraws planned share sale

TRMD - Torm stock rises after Oaktree withdraws planned share sale

TORM plc

2023-03-31 06:22:05 ET

  • Torm ( OTCPK:TORM ) shares rose around 10% premarket on Friday after its largest shareholder OCM Njord Holdings withdrew a planned sale of 5M company shares.
  • On March 29, 2023, the Danish shipping firm had filed for a sale of 5M class A shares by OCM Njord, a company indirectly owned by funds managed by Oaktree Capital Management.
  • TORM share price had dropped around 13% on the news.
  • However, the private equity firm has backed out on the sale citing current market conditions that were not conducive.

For further details see:

Torm stock rises after Oaktree withdraws planned share sale
Stock Information
Company Name: TORM plc
Stock Symbol: TRMD
Market: NASDAQ
Website: torm.com
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