Oaktree Capital Fully Exits TORM plc in $252M Secondary Block Trade
TORM plc
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Filing Summary
# Oaktree Capital Completes Full Exit from TORM plc (TRMD)
**Filing Type:** SCHEDULE 13D/A (Amendment No. 26 - Exit Filing)
**Filer:** Oaktree Capital Holdings, LLC / OCM Njord Holdings S.à r.l.
**Event Date:** October 6, 2026
### Transaction Summary
- **Shares Sold:** 6,329,874 Class A Common Shares
- **Execution Price:** $39.845 per share
- **Gross Proceeds:** $252,213,829.53
- **Shares Remaining:** 0 (0.00%)
- **Significance:** High — Complete liquidation and final exit by principal sponsor.
Comprehensive Analysis
Executive Summary
On October 7, 2026, Oaktree Capital Holdings, LLC and related entities (including OCM Njord Holdings S.à r.l.) filed Amendment No. 26 to Schedule 13D for TORM plc, marking an official exit filing. Pursuant to an Underwriting Agreement entered into on October 6, 2026, OCM Njord Holdings agreed to sell its remaining 6,329,874 Class A common shares through an underwritten secondary block trade to J.P. Morgan Securities LLC at $39.845 per share, generating gross proceeds of approximately $252.21 million.
Following the settlement on October 7, 2026, Oaktree's beneficial ownership in TORM plc was reduced to zero shares (0.00%).
Key Transaction Highlights
- Transaction Structure: Underwritten secondary offering / block trade with J.P. Morgan Securities LLC.
- Volume: 6,329,874 Class A shares.
- Sale Price: $39.845 per share.
- Aggregate Consideration: $252,213,829.53 before expenses.
- Post-Transaction Holding: 0 shares (0.00%), formally concluding Oaktree's multi-year tenure as a major controlling shareholder.
- Lock-Up Terms: Customary lock-up agreements expire November 13, 2026.
Market and Ownership Impact
- Elimination of Shareholder Overhang: Oaktree has progressively reduced its stake in TORM plc across 26 amendments. With this final block trade, the long-standing sponsor overhang is entirely eliminated.
- Increased Free Float: The absorption of Oaktree's final position into the public market increases the institutional and retail float for TORM plc.
- Trading Significance: High. A complete divestment of this size represents a defining liquidity and ownership transition for TORM plc.
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Important Disclaimer
This content is drawn from public SEC filings and may contain errors. It is for informational purposes only and is not investment, legal, or tax advice.
Nothing here is a recommendation to buy, sell, or hold any security. Do your own due diligence.