Latest news with #IbrahimbinBakhitAlNadhairi
Zawya
13-03-2025
- Business
- Zawya
Oman: Asyad Shipping successfully lists on Muscat Stock Exchange
Muscat: Asyad Shipping Company, one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, on Wednesday successfully listed on the Muscat Stock Exchange (MSX) following the completion of its IPO. The company raised OMR128.1 million (equivalent to USD 332.8 million) from domestic and international investors. The bell ringing ceremony took place at this morning at the MSX, with trading of Asyad Shipping's shares commencing under the ticker symbol 'ASCO'. A total of 1,041,748,856 ordinary shares were offered to investors, representing 20% of the Company's total issued share capital. The offer price was set at 123 baisas per share, with Asyad Shipping's market capitalization at approximately OMR641 million ($1.66 billion). Commenting on this exceptional event in the journey of Asyad Shipping, Dr. Ibrahim bin Bakhit Al Nadhairi, CEO of Asyad Shipping, said: 'I am incredibly proud to see Asyad Shipping list on Muscat Stock Exchange. 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, leveraging Asyad Group's advanced infrastructure. 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 and partners by continuously seeking out new growth opportunities.' Asyad Shipping's public listing on the MSX allows domestic and international investors to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy. Commenting on the listing, Haitham bin Salim Al Salmi, CEO of Muscat Stock Exchange, said: 'The listing of Asyad Shipping, a subsidiary of Asyad Group, on the Muscat Stock Exchange is an important step towards reinforcing the Exchange's position and opens new investment opportunities in the diversified maritime transport and shipping industry. Asyad Shipping is the first company that lists on the MSX this year, a valuable addition to the logistics sector on the Exchange'. © Muscat Media Group Provided by SyndiGate Media Inc. (
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)
Times of Oman
12-03-2025
- Business
- Times of Oman
Asyad Shipping successfully lists on Muscat Stock Exchange
Muscat: Asyad Shipping Company, one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, on Wednesday successfully listed on the Muscat Stock Exchange (MSX) following the completion of its IPO. The company raised OMR128.1 million (equivalent to USD 332.8 million) from domestic and international investors. The bell ringing ceremony took place at this morning at the MSX, with trading of Asyad Shipping's shares commencing under the ticker symbol 'ASCO'. A total of 1,041,748,856 ordinary shares were offered to investors, representing 20% of the Company's total issued share capital. The offer price was set at 123 baisas per share, with Asyad Shipping's market capitalization at approximately OMR641 million ($1.66 billion). Commenting on this exceptional event in the journey of Asyad Shipping, Dr. Ibrahim bin Bakhit Al Nadhairi, CEO of Asyad Shipping, said: 'I am incredibly proud to see Asyad Shipping list on Muscat Stock Exchange. 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, leveraging Asyad Group's advanced infrastructure. 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 and partners by continuously seeking out new growth opportunities.' Asyad Shipping's public listing on the MSX allows domestic and international investors to invest in one of the world's largest diversified maritime shipping companies and a key player in the Omani economy. Commenting on the listing, Haitham bin Salim Al Salmi, CEO of Muscat Stock Exchange, said: 'The listing of Asyad Shipping, a subsidiary of Asyad Group, on the Muscat Stock Exchange is an important step towards reinforcing the Exchange's position and opens new investment opportunities in the diversified maritime transport and shipping industry. Asyad Shipping is the first company that lists on the MSX this year, a valuable addition to the logistics sector on the Exchange'.
