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”.