Latest news with #OMR641
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. (
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'.
Times of Oman
04-03-2025
- Business
- Times of Oman
Asyad Shipping Company announces final IPO price at the top of the range
Muscat: Asyad Shipping Company (under transformation) , one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, on Tuesday announced the final offer price and demand levels for its initial public offering (IPO) on the Muscat Stock Exchange (MSX). The final offer price has been set at 123 baisas per share, at the top of the previously announced offer price range of 117 baisas to 123 baisas per share, raising gross proceeds of OMR128.1 million ($332.8 million) for Asyad Group, (the Selling Shareholder). Based on the final offer price, Asyad Shipping's market capitalisation upon listing will be OMR641 million ($1.66 billion). The Offering comprised of a total of 1,041,748,856 existing shares (Offer Shares) by Asyad Group, representing 20% of Asyad Shipping's total issued share capital. Of those, 25% of Offer Shares were allocated for Category II (Retail Investor) applicants and 75% of Offer Shares were allocated for Category I (Institutional Investor) applicants. In the Category I tranche, 30% of Offer Shares were allocated to the two anchor investors, Mars Development and Investment and Falcon Investments, a subsidiary of the Qatar Investment Authority, who committed to subscribe for 10% and 20% of the Offer Shares respectively, at 123 baisas per share. Asyad Shipping, in collaboration with Asyad Group, appointed Ubhar Capital as the price stabilisation manager and liquidity provider for the Offering. Asyad Group has allocated OMR10 million from the IPO proceeds to Ubhar Capital to conduct stabilising transactions in the Company's shares at the final offer price commencing on the first day of trading and for a period of up to 30 calendar days thereafter. The Asyad Shipping IPO will be the first IPO in Oman where a price stabilisation manager has been appointed. The backing of Asyad Shipping's Offering by prominent local and regional anchor investors played a significant role in the strong demand seen during the Offering. Mars Development and Investment and Falcon Investments, a subsidiary of the Qatar Investment Authority, showed substantial confidence in Asyad Shipping's competitive strengths such as its revenue backlog of $1.9 billion, its backing by the Oman Investment Authority (OIA), its highly experienced management team, and its industry-leading adjusted EBITDA margin of 68%. Their participation provided crucial momentum, contributing to the oversubscription levels experienced in the IPO.
