More Asyad Shipping shares heading to market

MUSCAT, SEPT 20
Asyad Group expects to sell at least 5 per cent more of Asyad Shipping Company before the second anniversary of the company's stock market listing, lifting its public free float to the 25 per cent regulatory minimum.
In a disclosure to the Muscat Stock Exchange, Asyad Shipping said the sale remains subject to market conditions and approval from the Financial Services Authority (FSA). The company is consulting the regulator on the options and timing.
The commitment stems from a dispensation the FSA granted at the time of the company's 2025 initial public offering. Asyad Group SAOC sold 1,041,748,856 shares to the public, equal to 20 per cent of issued share capital. That was below the 25 per cent minimum free float that would otherwise have applied. The regulator allowed the IPO to proceed on the understanding that a further 5 per cent would be offered later.
Asyad Shipping said it expects the requirement to be met before the second anniversary of its MSX listing on March 12, 2025.
Based on the IPO figures, a 5 per cent stake would amount to about 260 million shares. The filing did not say how the shares would be offered, whether through a secondary public offering, a private placement or another route. It also gave no indication of pricing.
The company said it would update the market when there is material development in this regard.
The listing formed part of Oman Investment Authority's divestment programme. OIA exited six assets in 2025, including stakes in Asyad Shipping. Officials have credited such listings and higher free-float levels with deepening liquidity as the MSX pursues emerging market status.
Asyad Shipping operates about 90 vessels and serves more than 60 countries. Its business is split across five segments: crude, dry bulk, gas, liner and products.