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      Oman to increase stake sale in Asyad Shipping

      Asyad Group plans to sell an additional stake in Asyad Shipping Company, which is listed on the Muscat Stock Exchange (MSX), through a secondary offering.

      The 6.25 percent stake will be offered in two tranches: 5 percent for institutional investors and up to 1.25 percent for retail investors, Asyad Shipping said in a statement on the MSX. Asyad Group is owned by the Oman Investment Authority.

      The sale will increase Asyad Shipping’s free float to more than 25 percent, meeting the minimum requirement set by Oman’s Financial Services Authority.

      Asyad Shipping listed on the local stock exchange in March 2025, when Asyad Group sold a 20 percent stake in an initial public offering.

      The institutional bookbuild opened today and will close on October 22. The final offer price and allocations will be announced on October 26, subject to regulatory approvals. The institutional tranche is expected to list on November 4.

      The retail tranche will open after the institutional bookbuild is complete and will be offered at the same price.

      Oman Investment Bank and Sohar International Bank will serve as joint global coordinators and issue managers.

      This month, Asyad Shipping reported a net profit of OMR68 million for the first nine months of 2026, up from OMR33 million a year earlier. Gross revenue rose 10 percent year on year to OMR277 million, driven by higher freight and time charter rates.

      Asyad Shipping’s shares were trading 0.5 percent lower at OMR0.223 on Tuesday afternoon on the MSX, but were up 22 percent since January 1 this year.

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      Source: AGBI
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