Morgan Stanley Acts as Sole Bookrunner with Deal Range of $29.60-$29.80
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jun 23 2026
0mins
The deal range was $29.60-$29.80. Morgan Stanley acted as sole book running manager for the offering.
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Analyst Views on TRMD
Wall Street analysts forecast TRMD stock price to fall
1 Analyst Rating
0 Buy
0 Hold
1 Sell
Moderate Sell
Current: 27.990
Low
14.09
Averages
14.09
High
14.09
Current: 27.990
Low
14.09
Averages
14.09
High
14.09
About TRMD
TORM plc is a United Kingdom-based shipping company. The Company owns and operates a fleet of product tankers. The Company’s segments include the Tanker segment, for which the services provided primarily comprise transportation of refined oil products, such as gasoline, jet fuel, and naphtha, and the Marine Engineering segment, for which the services provided primarily comprise developing and producing advanced and green marine equipment. Its wholly owned fleet of around 90 vessels is specifically configured to move energy and clean petroleum products from refineries to their customers. With vessels varying in size from 45,000 - 115,000 deadweight tonnage (DWT), it offers a range of product tankers. It is present in all large vessel classes in the product tanker market, with specific focus on the LR2, LR1, and MR vessel classes. Its vessels include TORM Hannah, TORM Hellerup, TORM Helene, TORM Hermia, TORM Signe, TORM Elizabeth, TORM Elise, TORM India, TORM Lilly, among others.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
TORM plc Increases Share Capital Through RSU Exercise
- Capital Increase: TORM plc has increased its share capital by 28,144 A-shares through the exercise of Restricted Share Units (RSUs), with a nominal value of USD 281.44, indicating the company's commitment to its employee incentive program aimed at enhancing employee loyalty and performance.
- Cash Subscription Details: A total of 7,089 shares were subscribed at DKK 127.30 each, 13,966 shares at DKK 139.90, and another 7,089 shares at DKK 195.50, reflecting strong market demand for the company's stock, which may enhance its future financing capabilities.
- Share Characteristics: The new shares are ordinary shares that confer dividend rights and other entitlements, and they are expected to be listed on Nasdaq Copenhagen soon, which will increase the company's visibility and liquidity in the capital markets.
- Shareholder Rights: The capital increase was executed without pre-emption rights for existing shareholders, which may raise concerns about shareholder interests, but it also provides the company with flexibility to attract new capital to support its future expansion plans.
See More
TORM plc Increases Capital by 28,144 A-Shares
- Capital Increase: TORM plc has increased its capital by 28,144 A-shares through the exercise of Restricted Share Units (RSUs), reflecting a proactive approach in its incentive program.
- Cash Subscription Details: Of the new shares, 7,089 were subscribed at DKK 127.30 each, 13,966 at DKK 139.90, and another 7,089 at DKK 195.50, indicating strong market demand for the company's stock.
- Shareholder Rights: The newly issued ordinary shares carry no special rights and grant dividend and other rights from the date of issuance, with expectations for swift admission to trading on Nasdaq Copenhagen, enhancing market liquidity.
- Capital Structure Changes: Following the capital increase, TORM's total share capital amounts to USD 1,023,671.18, divided into 102,367,118 A-shares with a nominal value of USD 0.01 each, further solidifying its position in the global refined oil products transportation market.
See More
TORM plc CEO Stock Transaction Report
- Transaction Overview: TORM plc CEO Jacob Balslev Meldgaard exercised restricted share units on May 20, 2026, at DKK 131.8 per share for a total of 85,067 shares, indicating executive confidence in the company's future.
- Stock Sales Details: On May 18 and 20, 2026, Meldgaard sold 549,177 shares at prices of DKK 206.20 and DKK 205.16, totaling DKK 112,829,967, reflecting his strategic timing in the market.
- Transparency in Transactions: The reporting of these transactions aligns with TORM plc's commitment to transparency, ensuring that investors are promptly informed about executive stock activities, thereby enhancing market trust.
- Company Background: Founded in 1889, TORM plc is a leading carrier of refined oil products, committed to safety, environmental responsibility, and customer service, with shares listed in Copenhagen and New York, showcasing its international business presence.
See More
TORM plc Executive Stock Transaction Report
- Executive Transaction Notification: TORM plc CEO Jacob Balslev Meldgaard reported the exercise of restricted share units on May 20, 2026, involving 85,067 shares at a price of DKK 131.8 per share, indicating executive confidence in the company's future.
- Stock Sale Details: On May 18 and 20, 2026, Meldgaard sold 549,177 shares at prices ranging from DKK 205.16 to DKK 207.57, totaling DKK 112,829,967, reflecting the executive's timing strategy in the market.
- Transaction Venue: All transactions were conducted on Nasdaq Copenhagen, demonstrating the company's commitment to transparency and compliance, thereby enhancing investor trust.
- Company Background: Founded in 1889, TORM plc is a leading carrier of refined oil products, committed to safety, environmental responsibility, and customer service, continuously expanding its operations in the global market.
See More
TORM plc Increases Share Capital Through RSU Exercise
- Capital Increase: TORM plc has increased its share capital by 215,635 A-shares through the exercise of Restricted Share Units (RSUs), reflecting the company's proactive approach in its incentive program.
- Cash Subscription Details: Of the new shares, 14,206 were subscribed at DKK 0.07 per A-share, 85,067 at DKK 131.80, and 116,362 at DKK 144.40, indicating strong investor confidence in the company's future prospects.
- Shareholder Rights Changes: The capital increase was executed without pre-emption rights for existing shareholders, with all new shares being ordinary shares that grant dividend rights from the issuance date, potentially impacting shareholder structure and corporate governance.
- Listing Expectations: The new shares are expected to be listed on Nasdaq Copenhagen as soon as possible, which will enhance the company's market liquidity and investor interest, thereby strengthening its competitive position in the global refined oil transportation market.
See More
Torm Reports Q1 Profit Growth but Stock Drops
- Quarterly Profit Performance: Torm reported a Q1 profit of $1.21 per share, nearly doubling last year's $0.64, although it fell short of analyst expectations by $0.03, indicating improved profitability but disappointing market sentiment.
- Time Charter Earnings Growth: The company’s time charter equivalent earnings rose 33% year-over-year to $286 million, aligning with consensus estimates, demonstrating Torm's robust operational performance amid a recovering shipping market.
- Full-Year Guidance Upgrade: Torm raised its full-year TCE guidance to $1.15 billion to $1.45 billion and EBITDA guidance to $800 million to $1.1 billion, reflecting the company's optimistic outlook on future market conditions and confidence in business expansion.
- Fleet Expansion Plans: Torm is expanding its fleet by acquiring eight additional vessels, including six MR tanker resales scheduled for delivery in 2027 and 2028, and two 2015-built MR tankers due in Q2, increasing its fleet size from 95 to 103 vessels, thereby enhancing its competitive position in the market.
See More
TORM plc Increases Share Capital Through RSU Exercise
- Capital Increase: TORM plc has increased its share capital by 28,144 A-shares through the exercise of Restricted Share Units (RSUs), with a nominal value of USD 281.44, indicating the company's commitment to its employee incentive program aimed at enhancing employee loyalty and performance.
- Cash Subscription Details: A total of 7,089 shares were subscribed at DKK 127.30 each, 13,966 shares at DKK 139.90, and another 7,089 shares at DKK 195.50, reflecting strong market demand for the company's stock, which may enhance its future financing capabilities.
- Share Characteristics: The new shares are ordinary shares that confer dividend rights and other entitlements, and they are expected to be listed on Nasdaq Copenhagen soon, which will increase the company's visibility and liquidity in the capital markets.
- Shareholder Rights: The capital increase was executed without pre-emption rights for existing shareholders, which may raise concerns about shareholder interests, but it also provides the company with flexibility to attract new capital to support its future expansion plans.
See More
TORM plc Increases Capital by 28,144 A-Shares
- Capital Increase: TORM plc has increased its capital by 28,144 A-shares through the exercise of Restricted Share Units (RSUs), reflecting a proactive approach in its incentive program.
- Cash Subscription Details: Of the new shares, 7,089 were subscribed at DKK 127.30 each, 13,966 at DKK 139.90, and another 7,089 at DKK 195.50, indicating strong market demand for the company's stock.
- Shareholder Rights: The newly issued ordinary shares carry no special rights and grant dividend and other rights from the date of issuance, with expectations for swift admission to trading on Nasdaq Copenhagen, enhancing market liquidity.
- Capital Structure Changes: Following the capital increase, TORM's total share capital amounts to USD 1,023,671.18, divided into 102,367,118 A-shares with a nominal value of USD 0.01 each, further solidifying its position in the global refined oil products transportation market.
See More
TORM plc CEO Stock Transaction Report
- Transaction Overview: TORM plc CEO Jacob Balslev Meldgaard exercised restricted share units on May 20, 2026, at DKK 131.8 per share for a total of 85,067 shares, indicating executive confidence in the company's future.
- Stock Sales Details: On May 18 and 20, 2026, Meldgaard sold 549,177 shares at prices of DKK 206.20 and DKK 205.16, totaling DKK 112,829,967, reflecting his strategic timing in the market.
- Transparency in Transactions: The reporting of these transactions aligns with TORM plc's commitment to transparency, ensuring that investors are promptly informed about executive stock activities, thereby enhancing market trust.
- Company Background: Founded in 1889, TORM plc is a leading carrier of refined oil products, committed to safety, environmental responsibility, and customer service, with shares listed in Copenhagen and New York, showcasing its international business presence.
See More
TORM plc Executive Stock Transaction Report
- Executive Transaction Notification: TORM plc CEO Jacob Balslev Meldgaard reported the exercise of restricted share units on May 20, 2026, involving 85,067 shares at a price of DKK 131.8 per share, indicating executive confidence in the company's future.
- Stock Sale Details: On May 18 and 20, 2026, Meldgaard sold 549,177 shares at prices ranging from DKK 205.16 to DKK 207.57, totaling DKK 112,829,967, reflecting the executive's timing strategy in the market.
- Transaction Venue: All transactions were conducted on Nasdaq Copenhagen, demonstrating the company's commitment to transparency and compliance, thereby enhancing investor trust.
- Company Background: Founded in 1889, TORM plc is a leading carrier of refined oil products, committed to safety, environmental responsibility, and customer service, continuously expanding its operations in the global market.
See More
TORM plc Increases Share Capital Through RSU Exercise
- Capital Increase: TORM plc has increased its share capital by 215,635 A-shares through the exercise of Restricted Share Units (RSUs), reflecting the company's proactive approach in its incentive program.
- Cash Subscription Details: Of the new shares, 14,206 were subscribed at DKK 0.07 per A-share, 85,067 at DKK 131.80, and 116,362 at DKK 144.40, indicating strong investor confidence in the company's future prospects.
- Shareholder Rights Changes: The capital increase was executed without pre-emption rights for existing shareholders, with all new shares being ordinary shares that grant dividend rights from the issuance date, potentially impacting shareholder structure and corporate governance.
- Listing Expectations: The new shares are expected to be listed on Nasdaq Copenhagen as soon as possible, which will enhance the company's market liquidity and investor interest, thereby strengthening its competitive position in the global refined oil transportation market.
See More
Torm Reports Q1 Profit Growth but Stock Drops
- Quarterly Profit Performance: Torm reported a Q1 profit of $1.21 per share, nearly doubling last year's $0.64, although it fell short of analyst expectations by $0.03, indicating improved profitability but disappointing market sentiment.
- Time Charter Earnings Growth: The company’s time charter equivalent earnings rose 33% year-over-year to $286 million, aligning with consensus estimates, demonstrating Torm's robust operational performance amid a recovering shipping market.
- Full-Year Guidance Upgrade: Torm raised its full-year TCE guidance to $1.15 billion to $1.45 billion and EBITDA guidance to $800 million to $1.1 billion, reflecting the company's optimistic outlook on future market conditions and confidence in business expansion.
- Fleet Expansion Plans: Torm is expanding its fleet by acquiring eight additional vessels, including six MR tanker resales scheduled for delivery in 2027 and 2028, and two 2015-built MR tankers due in Q2, increasing its fleet size from 95 to 103 vessels, thereby enhancing its competitive position in the market.
See More
