Transport Asyad Shipping raises $333m from Muscat listing By Pramod Kumar March 5, 2025, 10:06 AM Asyad Shipping/X Asyad Shipping was established in 2003, and operates a fleet of 89 vessels serving more than 60 countries Asyad Shipping, an Omani state-run company, has raised OMR128 million ($333 million) in an initial public offering of a fifth of its shares on the Muscat stock exchange, the company said in a statement. Based on the final offer price of 123 baisas per share, the company’s market capitalisation on listing will be OMR641 million ($1.7bn). The IPO comprised more than 1 billion shares, of which 75 percent were allocated to institutional investors. Oil IPO is latest step towards Oman’s emerging market status OQ’s methanol unit is latest in Oman’s privatisation push Oman wealth fund to launch IPOs in divestment push The anchor investors, Mars Development and Investment, an Omani state-owned entity, and Falcon Investments, a subsidiary of the Qatar Investment Authority, bid for 10 percent and 20 percent of the offer share, respectively, at the final price. Shares of Asyad Shipping are expected to start trade on the Muscat bourse next week. The company was set up in 2003 and operates a fleet of 89 vessels serving more than 60 countries. It transports liquefied natural gas and crude oil, as well as other products. Asyad Shipping plans to pay an annual dividend of $150 million in 2025 and 2026, according to its IPO statement. In January it said it was considering seeking a valuation of at least $1 billion, sources told Bloomberg.
