Asyad Shipping IPO's retail subscription ends on Wednesday
Muscat – Retail subscription for the initial public offering (IPO) of Asyad Shipping, the maritime transport arm of Asyad Group and one of the world's largest diversified maritime transport and shipping solutions companies, will end on Wednesday.
The offering is open to Category II investors, which includes both retail and high-net-worth individuals, at a price of 123bz per share. The Category II offering comprises 260.44mn shares, representing 20% of the total IPO size.
The IPO subscription period for Category I investors, which includes local and foreign institutional investors, will close on Thursday. The price per share ranges between 117bz and 123bz, with a total of 468.79mn shares, representing 45% of the total IPO offering.
Asyad Shipping has offered 1.042bn ordinary shares, representing at least 20% of the company's total issued share capital, with the IPO valued at over RO128mn. This move aligns with Asyad Shipping's vision to expand its operational growth, diversify its business portfolio, and ensure long-term sustainability.
The company's shares are expected to commence trading on the Muscat Stock Exchange (MSX) on 12 March 2025.
The offering has attracted major investors who have secured 312.525mn shares, representing 30% of the total IPO, at a price of 123bz per share. Among them, Mars Development and Investment has committed to subscribing to 10% of the offering, while Falcon Investments, a subsidiary of the Qatar Investment Authority, has committed to 20% of the transaction.
In collaboration with the Oman Chamber of Commerce and Industry (OCCI), Asyad Shipping has concluded a series of seven investor introductory sessions held across various governorates of Oman. These sessions were attended by business leaders and investors as part of the company's efforts to engage with potential stakeholders and educate them about the IPO process and investment opportunities. The sessions included a comprehensive company presentation highlighting growth opportunities, investment potential, and expected dividend distributions.
During the introductory session at the Muscat Stock Exchange on Tuesday, Dr Ibrahim bin Bakhit al Nadhairi, CEO of Asyad Shipping, emphasised that the company is a leading global transport platform adhering to international standards. He highlighted the company's growth trajectory, strategic expansion plans, and competitive positioning in global maritime trade.
He informed that Asyad Shipping aims to attract new investors, expand its partnership base, and grow its fleet, which currently comprises 89 vessels serving various industrial and commercial sectors across 60 countries, with a customer base exceeding 4,500 clients.
Nadhairi reiterated that the IPO aligns with the objectives of Oman Vision 2040, reinforcing economic diversification policies, sustainable growth, and corporate governance principles.
Ahmed bin Khamis al Shukaili, Senior Vice-President for Finance at Asyad Shipping, affirmed that the company maintains a strong financial position, with a sustainable growth trajectory and high sector-leading profit margins.
He disclosed that the company's revenue reached $1.9bn by September 2024, supported by long-term contractual commitments. In 2023, the company's total revenue stood at $945mn, with an EBITDA margin of 68%.
Shukaili highlighted that equivalent revenue from vessel leasing grew at a compound annual growth rate (CAGR) of 25%, reaching $733mn in 2023, compared to $470mn in 2021. He also confirmed that Asyad Shipping has planned investments ranging between $2.3bn and $2.7bn over the medium term.
Asyad Shipping has adopted a strategic capital structure to support long-term growth and operational flexibility. The company's net financial debt stood at $1.21bn, rising to $1.229bn when including lease obligations, as of 30 September 2024.
Shukaili further assured that Asyad Shipping maintains a positive cash position and strong cash flow, enabling it to self-finance operations and capital requirements. The company targets a net leverage ratio of approximately 2.5x adjusted earnings in 2025, reinforcing its commitment to financial efficiency and operational sustainability.
Asyad Shipping is among the world's largest companies in maritime transport and shipping services, boasting a comprehensive portfolio of assets and operational capabilities. Its services include liner shipping, vessel management, and chartering operations, solidifying its position as a leading player in global shipping markets.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Muscat Daily
2 hours ago
- Muscat Daily
be'ah, OQ sign deal for biogas project
Muscat – Oman Environmental Services Holding Company (be'ah) and OQ Trading have signed a cooperation agreement to develop a national project focused on producing biogas (biomethane) and bio-carbon dioxide by processing organic waste from landfills and future biofacilities managed by be'ah. This collaboration aims to turn environmental challenges into promising economic opportunities by utilising approximately 20mn cubic metres of biogas extracted from these sites – comprising around 40% biomethane (a renewable fuel) and 60% bio-CO₂ for sustainable industrial applications. The agreement sets out a roadmap for conducting technical and economic feasibility studies, infrastructure assessments, and exploring commercial marketing opportunities for the project's outputs. It also aims to create attractive local investment prospects aligned with the goals of Oman Vision 2040. Both companies highlighted that this partnership represents an integrated national collaboration between the energy and environmental sectors. It combines be'ah's expertise in waste and resource management with OQ Trading's global energy capabilities to reinforce Oman's position as a regional hub for clean energy. Eng Tariq Ali al Amri, CEO of be'ah, stated that the project marks a new milestone in energy recovery from organic waste through sustainable methods – converting environmental challenges into developmental and economic opportunities. He noted that biogas and bio-CO₂ production would reduce emissions, support Oman's net-zero goals, enhance waste management efficiency, and provide alternative energy sources. Said Talib al Maawali, Executive Director for the Middle East at OQ Trading, described the project as an attractive opportunity to diversify Oman's energy mix in line with the 2050 carbon neutrality targets and global trends towards sustainable, low-carbon energy solutions. He regarded the initiative as a strategic nucleus that will stimulate further investment in waste-to-energy initiatives and strengthen clean energy value chains. ONA
Observer
2 days ago
- Observer
Dhofar gears up for khareef with 100 tourist sites, 7,300 rooms
SALALAH, June 7 Dhofar Governorate is gearing up for its signature tourism season with a marked increase in hospitality capacity, as the number of licensed establishments reaches 100, offering 7,300 rooms, the Directorate General of Heritage and Tourism has confirmed. The expansion — driven by new hotel openings in Salalah, Taqah and Mirbat — is part of wider preparations for Khareef 2025, a key period for tourism in Oman. 'This capacity growth reflects our strategic focus on readiness and service excellence,' said Abdullah bin Omar al Sabbah Baaboud, Assistant Director of the Promotion Department in Dhofar. The Ministry of Heritage and Tourism, he noted, is working in tandem with stakeholders to upgrade tourism infrastructure and attract further investment into the hospitality sector. These efforts align with Oman Vision 2040, which positions tourism as a vital contributor to economic diversification and local development. According to official data, Dhofar welcomed 1.048 million visitors during the Khareef 2024 season, a 9 per cent year-on-year increase. Omani visitors surged by 70.1 per cent to over 734,500, while Gulf visitors rose 16.9 per cent, reaching nearly 177,000. Visitors from other Arab nations also posted a modest increase of 3.6 per cent. By end-2024, Dhofar had 83 licensed hotel properties offering 6,537 rooms. The additional supply — set to reach 100 hotels by summer 2025 — aims to meet rising demand and expand accommodation options for a diverse visitor base. The 2024 season also featured a significantly extended calendar of events, running for 90 consecutive days. Activities ranged from cultural showcases and family entertainment to sporting attractions such as the Salalah International Cycling Tour, drawing broad audience engagement across the governorate. The ministry implemented targeted marketing campaigns, participated in international travel exhibitions; and organised media and trade familiarisation trips. Social media outreach also intensified, partnering with regional influencers to reinforce Dhofar's profile as a leading monsoon destination. Officials expect further growth in visitor arrivals over the coming seasons, supported by continuous infrastructure upgrades and broader investment in tourism services. With Khareef tourism now a centrepiece of Dhofar's economic strategy, the governorate is on track to solidify its standing as a premier destination in the Arabian Peninsula.
Observer
2 days ago
- Observer
MSX market cap surpasses RO 28 billion
MUSCAT: The market capitalisation of the Muscat Stock Exchange (MSX) climbed to over RO 28 billion last week, supported by weekly gains of RO 79.3 million as several stocks ended higher. The MSX's main index closed at 4,578 points, up 17 points, maintaining the momentum seen over the past five weeks. The services sector index gained 5 points, driven by strong performances from Ooredoo, Omantel and OQ Gas Networks. In contrast, the industrial and financial sector indices dropped by 17 and 10 points, respectively, while the Shariah index recorded a marginal decline. The daily trading volume increased to RO 11 million, up from RO 10 million the previous week. The average daily number of transactions also rose, reaching 2,149 compared to 1,787. Trading was limited to four days due to the Eid Al Adha holiday. OQ Base Industries dominated activity with trades worth RO 10.58 million — 24 per cent of the week's total trading value of RO 44 million. Its share price rose by 4 baisas to close at 122 baisas. Bank Muscat followed with RO 5.49 million in trades, while OQ Gas Networks, Sohar International Bank, and OQ Exploration and Production rounded out the top five most traded stocks. Market performance remained buoyant with 34 securities gaining, 30 losing and 17 remaining unchanged. Muscat Gases posted the highest weekly gain at 18 per cent, closing at 118 baisas. Galfar Engineering rose 9 per cent to 72 baisas, while National Gas gained 8.8 per cent to 86 baisas. National Gas Company also announced the acquisition of an 80-per cent stake in Samharam Gas Company, which operates LPG bottling and distribution in Dhofar. The deal is expected to enhance the company's market position and profitability. In corporate news, Al Anwar Investments reported a surge in net profits from RO 532,000 to approximately RO 2.4 million for the fiscal year ending on March 31, 2025. Its board approved a 4-per cent cash dividend and a 4-per cent bonus share issue, subject to approval at the AGM on June 25. The share closed last week at 83 baisas, down 2 baisas. — ONA
