Latest news with #AsyadShippingCompany
Zawya
13-03-2025
- Business
- Zawya
Oman's Asyad Shipping debuts on Muscat bourse after $333mln IPO
Oman's Asyad Shipping Company has made its debut on the Muscat Stock Exchange (MSX), following the completion of its initial public offering (IPO). The maritime provider, which operates a fleet of 89 vessels and ships crude oil, liquefied natural gas and other products, started trading its shares on Wednesday under the ticker symbol 'ASCO'. Asyad Shipping had raised $332.8 million after offering 1.04 billion shares, representing a 20% stake. The final offer price was set at Bzs 123 per share, at the top end of the range, placing the market capitalisation of the company at around OMR 641 million ($1.66 billion). The company said its listing on the Omani stock market enables investors in the country and overseas to invest in one of the world's largest companies in the maritime shipping industry. 'Since our establishment in 2003, our journey has been marked by sustainable growth and global expansion and we have successfully built one of the world's largest diversified shipping companies,' said Ibrahim bin Bakhit Al Nadhairi, CEO of Asyad Shipping. 'As we look towards the future as a public company, we remain committed to supporting Oman's economic development, expanding our global operations and creating value for our investors.' Asyad Shipping is expected to distribute $58 million in dividends this month, to be followed by another $75 million in September this year. In March 2026, the company expects to make a dividend payout worth $75 million. Also in 2026, Asyad Shipping is expected to declare a fixed annual dividend of $150 million, half of which is slated for distribution in September of the same year. (Writing by Cleofe Maceda; editing by Seban Scaria)
Observer
05-03-2025
- Business
- Observer
FSA approves allocation of Asyad shares
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.
Zawya
05-03-2025
- Business
- Zawya
Oman: FSA approves allocation of Asyad shares
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. 2022 © All right reserved for Oman Establishment for Press, Publication and Advertising (OEPPA) Provided by SyndiGate Media Inc. (
Times of Oman
05-03-2025
- Business
- Times of Oman
Financial Services Authority approves allocation of Asyad Shipping shares
Muscat: The Financial Services Authority (FSA) announced the approval of 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 OMR177 million. The share prices 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 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 allocation of shares, to consider investors' segments with the aim 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.
Zawya
18-02-2025
- Business
- Zawya
Oman's Asyad Shipping IPO cleared for boarding: IFR
The IPO of Oman's Asyad Shipping Company will see just over 1bn shares offered for a 20% free-float at OR0.117–OR0.123 for a deal size of OR121m–OR128.2m (US$316.7m–$332.9m). Terms were released on Monday by the government's news service Oman News Agency almost four weeks after the deal launched. The price range values the company at OR605m–OR641m and represents a dividend yield of 9%–9.5% based on a fixed dividend of US$150m-equivalent for 2025 and 2026. Pricing is in line with spin-offs from OQ, which are trading between 8.1%–11.8% on 2025 numbers. Shares of peers are down year to date, by as much as 13.4% for oilfield drilling business Abraj Energy Services amid a softening in oil prices that has seen Brent Crude futures fall nearly 10% since a mid-January peak. An intention to float on January 22 was followed by bankers reporting positive engagement from investors throughout pre-marketing, however regulatory approvals delayed progress. Announcement of the range had previously been slated for last week. Subscription for Asyad Shipping will now open on Thursday and run until February 27. Three tranches will see 45% be offered to institutions, 25% to retail and 30% to anchor investors. Allocations for the institutional tranche will take place entirely on a discretionary basis. EFG Hermes, Oman Investment Bank, Jefferies, JP Morgan and Sohar International are joint global coordinators, and joint bookrunners with Credit Agricole/Kepler Cheuvreux and Societe Generale.
