Latest news with #RO128.1
Observer
12-03-2025
- Business
- Observer
Asyad Shipping listed on MSX
Asyad Shipping Company (Asyad Shipping) or ASC ), today, was successfully listed on the Muscat Stock Exchange (MSX) following the completion of its IPO. The Company raised RO128.1 million (equivalent to $332.8 million) from domestic and international investors. The bell ringing ceremony took place at 10 am this morning at the MSX, with the 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 percent of the company's total issued share capital. The offer price was set at 123 baizas per share, with Asyad Shipping's market capitalization at approximately RO641 million ($1.66 billion). The Company has established a robust dividend policy, demonstrating its commitment to shareholder returns. The Company intends to declare a dividend of $58.0 million (approximately RO22.3 million) payable in March 2025 and a dividend of $75.0 million (approximately RO29.0 million) payable in September 2025. Looking ahead, based on projected performance for the year ending December 31, 2025, the company expects to declare a dividend of $75.0 million (approximately RO29.0 million), payable in March 2026. In 2026, the company expects to declare a fixed annual dividend of $150.0 million (approximately RO58.0 million), 50 percent of which, amounting to $75.0 million (approximately RO29.0 million), is expected to be paid in September 2026 based on the Company's performance for the six months ending 30 June 2026, and the remaining 50 percent of which, amounting to $75.0 million (approximately RO29.0 million), is expected to be paid in March 2027 based on the Company's performance for the year ending 31 December 2026. In 2027, the Company expects to declare a dividend based on 95 percent of the audited net income for the year ending 31 December 2027. The Company expects to pay 50 percent of this dividend in September 2027 and 50 percent in March 2028. Dr. Ibrahim bin Bakhit al Nadhairi, CEO of Asyad Shipping, said: 'I am incredibly proud to see Asyad Shipping listed on the 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. Haitham 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 to lists on the MSX this year, a valuable addition to the logistics sector on the Exchange. This listing elevates the market capitalization of the Exchange to approximately OMR 27,831,000,000, and the company will be one of the ten largest listed companies on the Exchange. Asyad Shipping's listing is aligned with the Oman Investment Authority's strategy to divest from some government assets, to support the economic diversification efforts and to achieve the objectives of Oman Vision 2040.'
Zawya
05-03-2025
- Business
- Zawya
Asyad Shipping sets offer price, raises $333mln in Oman IPO
Asyad Shipping Company, one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, today (March 8) announced the final offer price and demand levels for its initial public offering (IPO) on the Muscat Stock Exchange. The Omani group has set the final price for its IPO at Bzs123 per share, at the top of the marketed price range of Bzs 117 to Bzs 123 per share, raising gross proceeds of RO128.1 million ($333 million). Based on the final offer price, Asyad Shipping's market capitalization upon listing will be RO641 million ($1.66 billion). The IPO comprises a total of 1,041,748,856 existing shares by Asyad Group (representing 20% of Asyad Shipping's total issued share capital). Of these, 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 Bzs 123 per share. Asyad Shipping, in collaboration with Asyad Group, appointed Ubhar Capital as the price stabilisation manager and liquidity provider for the IPO. Asyad Group has allocated RO10 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 stabilization manager has been appointed.
Trade Arabia
04-03-2025
- Business
- Trade Arabia
Asyad Shipping sets offer price, raises $333m in Oman IPO
Asyad Shipping Company, one of the world's largest diversified maritime providers and a global leader in deep-sea transportation, today (March 8) announced the final offer price and demand levels for its initial public offering (IPO) on the Muscat Stock Exchange. The Omani group has set the final price for its IPO at Bzs123 per share, at the top of the marketed price range of Bzs 117 to Bzs 123 per share, raising gross proceeds of RO128.1 million ($333 million). Based on the final offer price, Asyad Shipping's market capitalization upon listing will be RO641 million ($1.66 billion). The IPO comprises a total of 1,041,748,856 existing shares by Asyad Group (representing 20% of Asyad Shipping's total issued share capital). Of these, 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 Bzs 123 per share. Asyad Shipping, in collaboration with Asyad Group, appointed Ubhar Capital as the price stabilisation manager and liquidity provider for the IPO. Asyad Group has allocated RO10 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 stabilization manager has been appointed.
