MUSCAT : The subscription price is set at 123 baisas per share, with 260.44 million shares on offer, representing 20 percent of the total offering size.

The subscription period for institutional investors (Category I) will end the following day, Thursday, February 27, 2025. The share price for institutions ranges from 117 baisas to 123 baisas per share, with 468.79 million shares available, representing 45 percent of the offering size.

Asyad Shipping, part of the Asyad Group, has made available 1.042 billion shares in its IPO, which represents no less than 20 percent of the company’s total issued capital, with an offering size exceeding OMR 128 million. The funds raised from this offering are intended to support the company’s operational growth, diversify its commercial portfolio, and drive long-term sustainability.

The company’s shares are expected to begin trading on the Muscat Stock Exchange on March 12, 2025.
The offering has attracted significant interest from major investors. Mars Development and Investment Company has committed to subscribing to 10 percent of the offering, while Falcon Investment Company, a subsidiary of the Qatar Investment Authority, has pledged to acquire 20 percent. In total, large institutional investors have secured 312.525 million shares, representing 30 percent of the offering.

Dr. Ibrahim bin Bakhit Al Nadhiri, CEO of Asyad Shipping, emphasized the company’s commitment to expanding its base of investor partners while growing its fleet of 89 diverse ships, which currently serve all industrial and commercial sectors across about 60 countries.

Ahmed bin Khamis Al-Shikaili, Senior Executive Vice President for Financial Affairs at ASYAD Shipping, outlined the company’s ambitious investment strategy, which includes deploying capital between $2.3 billion and $2.7 billion between 2025 and 2029 to expand in priority sectors. He also highlighted that the company’s revenues had reached $1.9 billion as of September 2024.

He further noted that the company’s chartering revenues grew at a compound annual growth rate of 25 percent, reaching $733 million in 2023. Additionally, the company’s financial obligations stood at $1.21 billion. Based on the company’s performance in 2024, ASYAD Shipping expects to distribute profits of RO 22.3 million (approximately $58 million) to its shareholders.

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