Asyad Group plans 20% IPO for Asyad Shipping on Muscat Exchange

Oman's state-controlled logistics firm Asyad Group has announced plans to launch an initial public offering (IPO) for its subsidiary, Asyad Shipping Company, aiming to sell at least 20% of its shares on the Muscat Stock Exchange in February. The IPO is part of Oman's broader privatization strategy, designed to attract foreign investment and foster economic growth. The offering will target both institutional and retail investors, with approximately 75% of shares reserved for institutional investors, including a portion for anchor investors. Asyad Shipping, established in 2003, operates a fleet of around 90 vessels and serves major clients such as BP, Shell, and Trafigura, highlighting its significant role in the maritime sector. The company has reported strong financial performance, with a compound annual growth rate of 21% in revenue and 73% in net profit. The IPO is expected to provide investors with a valuable opportunity in one of the world's largest diversified maritime shipping companies.