Asyad: Debuts on Muscat Bourse with $333 Million IPO

Deal News | Mar 13, 2025 | Zawya

Asyad: Debuts on Muscat Bourse with $333 Million IPO

Oman's Asyad Shipping Company has successfully launched its initial public offering on the Muscat Stock Exchange (MSX), securing $332.8 million from offering 1.04 billion shares. The offering signifies a 20% stake in the maritime giant and sets the market capitalization of Asyad Shipping at approximately OMR 641 million ($1.66 billion). This listing marks a significant development for the firm, which boasts a fleet of 89 vessels. CEO Ibrahim bin Bakhit Al Nadhairi emphasized the company's continued commitment to economic growth and increased global operations. Future plans include dividend distributions totaling $208 million by 2026.

Sectors

  • Maritime Shipping
  • Financial Markets

Geography

  • Oman – Asyad Shipping is based in Oman and its IPO took place on the Muscat Stock Exchange, a key financial market in the country.

Industry

  • Maritime Shipping – Asyad Shipping operates in the maritime industry, managing a diverse fleet for transporting crude oil, LNG, and other products.
  • Financial Markets – The IPO listing of Asyad Shipping on the Muscat Stock Exchange highlights its operations within the financial markets sector.

Financials

  • $332.8 million – Amount raised by Asyad Shipping from its IPO.
  • OMR 641 million ($1.66 billion) – Market capitalization of Asyad Shipping post-IPO.
  • $58 million – Dividend expected to be distributed this month by Asyad Shipping.

Participants

NameRoleTypeDescription
Asyad ShippingTarget CompanyCompanyA major maritime shipping provider with a fleet of 89 vessels, involved in the transportation of crude oil, LNG, and other products.
Muscat Stock Exchange (MSX)Financial MarketCompanyThe primary stock exchange where Asyad Shipping's IPO took place, located in Oman.