MUSCAT: Asyad Shipping Company SAOG (under transformation), one of the world’s largest diversified maritime providers and a global leader in deep-sea transportation, in collaboration with the Selling Shareholder, Asyad Group, has announced the appointment of a Stabilization and Liquidity Enhancement Manager for its Initial Public Offering (IPO).
This strategic move underscores the Company’s confidence in its proposition and reinforces assurance in the market through supporting price stability post-listing.
The appointed Stabilization Manager may, subject to applicable regulations, conduct stabilizing transactions at the offer price of the Company’s shares aimed at maintaining the market price of the shares following their listing on the Muscat Stock Exchange (MSX). These transactions will be carried out under regulatory guidelines to mitigate excessive volatility and ensure an orderly market.
Subject to regulatory approvals, the stabilization period will commence on the first day of trading of Asyad Shipping shares on the MSX and will continue for a period of up to 30 calendar days thereafter.
To support this initiative, the Selling Shareholder, Asyad Group, will allocate RO 10 million from the sale proceeds, reinforcing price stability at the Offer Price. This commitment demonstrates Asyad Shipping’s certainty in the strength of its market position and its effort to foster a stable and resilient trading environment for investors.
Beyond price stabilization, the appointed manager will also serve as the Liquidity Manager for Asyad Shipping's shares post-listing. This initiative underscores the Company’s commitment to enhancing market efficiency and ensuring seamless trading for investors.
This appointment is the first time a Price Stabilization Agent has been designated in Oman. It demonstrates the Company’s commitment to market stability. With the support and
partnership of regulatory bodies, this milestone was made possible.
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