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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.

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