Muscat - The Financial Services Authority (FSA) has announced the allocation of the shares of Asyad Shipping Company (ASCO) based on the categories stated in the prospectus.
The offering was covered 1.4 times at a total value of RO 177 million. The share price is 123 Baisas, and the value of the offered shares is RO 127 million.
Approved allocation results show allocation at 100% for the category of large and small individual investors. Local and foreign institutions were allocated shares by the selling shareholder in consultation with the joint global coordinator as per the terms and conditions stated in the prospectus.
Asyad Shipping Company is a subsidiary of ASYAD Group, one of the companies of the Oman Investment Authority (OIA).
The offering is a manifestation of OIA’s policy of divesting certain government assets in line with Oman Vision 2040, that aims to attract national and foreign investments. The move is also part of efforts for diversification and expansion of the investors' base. The offering will allow investors an opportunity to invest in one of the most prominent companies in Oman in the field of marine transportation.
It is worth noting that FSA is keen, when considering the allocation of shares, to consider investors’ segments to expand the base of participation in public offerings to enhance the role of the capital market as a source of effective funding in the national economy.
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