Torm considering New York IPO

Carrier Torm is pondering a possible IPO on the New York Stock Exchange to supplement its listing on Nasdaq in Copenhagen. If the carrier makes the move, the process is expected completed in 2016, informs Torm in relation to its third quarter interim report.

Controlling stakeholder in Torm, US-based equity fund Oaktree Capital Management, is looking to take the carrier public in New York in 2016, informs Torm in its third quarter interim report.

Torm achieved an operating profit (EBITDA) of USD 96 million in the third quarter 2015 in a product tanker market that Torm describes as the strongest since 2009.

Already a subscriber? Log in.

Read the whole article

Get access for 14 days for free.
No credit card is needed, and you will not be automatically signed up for a paid subscription after the free trial.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from ShippingWatch

MPC upgrades 2022 guidance after strong first half

MPC Container Ships reports continued advancement in Q2, raising guidance for its operating result to almost half a billion dollars. High rates will continue for several quarters yet, the company expects.

Further reading

Related articles

Latest news

See all jobs