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