Torm shares dip 3.2% as Oaktree exits in $253.5 mln secondary offering
US-listed shares of product tanker operator Torm fell 3.2% in premarket trading after a secondary offering of approximately 6.3 million shares, managed by Oaktree Capital Management, priced at $40.05 per share for gross proceeds of about $253.5 million. Oaktree divested its remaining 6.2% stake in the company.
05 as Nordic-listed tankers rose, driven by record rates * At Mon close, US-listed shares soared ~110% YTD, including 47% gain over the past three months (Lance Tupper is a Reuters market analyst. com 1-646-279-6380)