Torm A/S (DK:TRMD.A) has released an update.
TORM plc, a leading carrier of refined oil products, has announced a capital increase by issuing 683,009 new shares in connection with the acquisition of a 2011-built LR2 product tanker. This move, which excludes pre-emption rights for current shareholders, aims to settle a USD 20.6 million loan note and will result in a lock-up period of 40 days for the new shares. Following the capital increase, TORM’s total share capital now stands at USD 943,993.32, with the new shares expected to be listed on Nasdaq Copenhagen promptly.
For further insights into DK:TRMD.A stock, check out TipRanks’ Stock Analysis page.
