27/10/2026 03:00 AST
Asyad Group will offer 65.1mn shares in Asyad Shipping Company to retail investors at 195bz per share from October 28 to November 2, completing the second phase of its planned sale of an additional 6.25% stake in the shipping subsidiary.
The retail tranche comprises 65,109,304 existing ordinary shares, representing 1.25% of Asyad Shipping's issued share capital. The offering is part of Asyad Group's additional sale of 325.5mn shares, aimed at increasing the shipping company's free float to 25% and meeting the minimum requirement set by the Financial Services Authority (FSA).
According to the offering prospectus issued by Asyad Shipping, the retail offer price is the same as that set for the institutional tranche, which was oversubscribed and raised approximately RO50.8mn for Asyad Group. As the offering involves existing shares held by the parent group, Asyad Shipping will not receive any proceeds from the transaction.
Under the first phase, 260.4mn shares, representing 5% of the company's issued share capital and constituting 80% of the total offer size, were offered to selected qualified institutional investors through a private placement. The institutional offer was conducted through an accelerated bookbuilding process, announced on October 22 and closed on the same day. The institutional tranche was priced at 195bz per share and the same price has been set for the retail offer.
The institutional offer was oversubscribed, reflecting strong demand from investors in Oman and internationally, according to a disclosure filed by Asyad Shipping with the Muscat Stock Exchange.
According to the prospectus, half of the shares available in the retail offering have been allocated to large retail investors and the other half to small retail investors. Large retail investors must apply for a minimum of 50,100 shares, with no maximum limit specified. Small retail investors can apply for a minimum of 100 shares and a maximum of 50,000 shares.
Shares will be allocated to applicants on a proportionate basis, according to the prospectus.
Oman Investment Bank and Sohar International Bank have been appointed joint global coordinators and issue managers for the transaction. Sohar International Bank, Ahli Bank, BankDhofar, National Bank of Oman, Oman Arab Bank, Jabal Asset Management, Ubhar Capital, United Securities and Vision Capital have been appointed collection agents for the retail offer.
The additional offering follows Asyad Shipping's initial public offering (IPO) in March 2025, when Asyad Group sold approximately 1.042bn shares worth more than RO128.1mn, representing 20% of the company's share capital at the time.
Muscat Daily
Please wait...