MUSCAT: The Financial Services Authority (FSA) has approved the initial public offering (IPO) prospectus of Asyad Shipping Company, marking a major milestone in its transformation into a public joint stock company. The offering will include approximately 1.042 billion shares, representing 20% of the company’s capital, as part of Oman’s broader strategy to privatise government assets and attract investment.
The IPO will be structured into three investor categories: institutional investors, individual investors, and major investors. The subscription period for individual investors will run from February 20 to 26, while institutional investors can participate from February 20 to 27.
Retail Investors (Individual Category): 25% of the total offering is allocated to this segment, with shares priced at 123 baisas per share. Small individual investors can subscribe to a minimum of 1,000 shares and a maximum of 81,300 shares, while major individual investors must subscribe to at least 81,400 shares, with no upper limit.
Institutional Investors: 45% of the offering is allocated to local, regional, and international institutions, with a minimum subscription of 100,000 shares and no upper limit. The final price per share will be determined through a book-building process, within a price range of 117 to 123 baisas per share.
Major Investors: This category will receive 30% of the offering, with 208.35 million shares allocated, amounting to a value of over RO 40.83 million.
Asyad Shipping, a subsidiary of Asyad Group and part of the Oman Investment Authority (OIA), plays a crucial role in Oman’s maritime transport sector. The IPO aligns with the OIA’s privatization strategy, which seeks to divest government assets, expand the Muscat Stock Exchange (MSX), and enhance market liquidity.
Furthermore, the listing is a key step in Oman’s Vision 2040, aimed at attracting domestic and foreign investment, fostering capital market growth, and reinforcing Oman’s position as a global logistics hub. Investors will have the opportunity to own a stake in a leading maritime transport company, benefiting from its strategic expansion and Oman’s growing role in regional and international shipping. — ONA
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