MUSCAT: According to the Muscat Stock Exchange (MSX) announcement, the total offering comprised 335,312,913 shares, representing 6.44 percent of the company’s issued share capital, at an offer price of 195 baisas per share.
The retail tranche attracted subscription payments of approximately RO 37.9 million, with demand reaching around three times the initial allocation. In response to strong investor interest, the retail allocation was increased by 15 percent, from 65,109,304 shares to 74,875,699 shares.
Following the increase, the retail tranche remained oversubscribed by approximately 2.6 times.
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The institutional tranche comprised 260,437,214 ordinary shares, representing 5 percent of Asyad Shipping’s issued share capital. These shares were offered to selected institutional investors through a private placement using an accelerated book-building process.
Under the approved allocation mechanism, small retail investors will receive a minimum allocation of 4,000 shares each.
Any remaining shares will be distributed on a pro-rata basis, with investors receiving approximately 19.4 percent of their outstanding share requests after the initial allocation, in accordance with the offering prospectus.
For large retail investors, the allocation has been set at approximately 30.8 percent of the total shares requested.
