Asyad Group Plans IPO for Shipping Division

Oman’s Asyad Group, a state-controlled logistics leader, is set to launch an initial public offering (IPO) for its shipping division, Asyad Shipping. The company aims to sell at least 20% of its shares on the Muscat Stock Exchange. This move marks a significant step in expanding its presence in the maritime industry.
Details of the IPO and Company Background
Asyad Group has appointed Crédit Agricole Corporate and Investment Bank and Société Générale as joint bookrunners for the IPO. The subscription period for potential investors will commence in February, with the listing on the Omani bourse anticipated in early March. Sohar International Bank will act as the issue manager, while JPMorgan Chase, Jefferies Financial Group, EFG Hermes, and Oman Investment Bank will serve as joint global coordinators.
Founded in 2003, Asyad Group operates a diverse fleet of approximately 90 vessels, which includes tankers, dry bulk carriers, and LNG carriers. The company has been actively expanding its fleet, recently ordering four Very Large Crude Carriers (VLCCs) from Hanwha Ocean in South Korea. This order, valued at around $520 million, is expected to be delivered between 2026 and the first quarter of 2027.
This IPO is part of Asyad’s broader strategy to enhance its operational capabilities and market reach. By floating Asyad Shipping, the group aims to attract investment and strengthen its position in the competitive maritime sector. The upcoming listing is expected to generate significant interest among investors, reflecting the growing importance of logistics and shipping in Oman’s economy.