Effective from 02 January 2023, TORM will move from the Mid Cap to the Large Cap index on the Nasdaq Nordic stock exchange. TORM thereby joins a segment of large Nordic companies, which have a market valuation above EUR 1 billion (approx. DKK 7.5 billion). TORM’s market valuation today amounts to EUR 2.4 billion (approx. DKK 17.6 billion).

Nasdaq reports that the annual review of its Nordic market capitalization segments is completed. Together with indexes and sector classifications, the market cap segmentation is a tool to increase visibility for companies listed on Nasdaq’s exchanges in Stockholm, Helsinki, Copenhagen, and Iceland.

Companies with a market value exceeding EUR 1 billion are in the group of “Large Cap”, and TORM has now moved outside the reference values for their current classification.

“We are very proud of the announcement from Nasdaq as it testifies that our integrated business model and operational platform, One TORM, underpins our results. One TORM balances our collective focus on market responsiveness, operational efficiency, safety, and transparency between our management, employees, customers, investors, and partners. It is the tool that keeps us on course and generates great value for our shareholders. Our One TORM platform is well-positioned to benefit from the strong tanker market in 2023,” says Executive Director Jacob Meldgaard.

Thanks to a strong market, TORM achieved the best quarterly results on record during the third quarter of 2022.
Source: TORM