Asyad Shipping's retail share offer oversubscribed 3 times

09/11/2026 04:47 AST

The retail tranche of Asyad Shipping Company's secondary share offering was oversubscribed approximately three times before its allocation was increased by 15% to accommodate strong investor demand.

The Financial Services Authority (FSA) has approved the allocation results of the offering, which totalled 335,312,913 shares (including both intuitional and retail tranches) following the increase, representing 6.44% of the company's issued share capital. The shares were offered at 195bz each.

Retail investors subscribed for 194,293,900 shares, with total subscription payments reaching RO37.887mn through 11,205 applications. Against the initial allocation of 65,109,304 shares, the retail tranche attracted demand equivalent to approximately three times the shares on offer.

In response to the strong demand, the retail allocation was increased by 15%, from 65,109,304 shares, representing approximately 1.25% of the company's share capital, to 74,875,699 shares, equivalent to approximately 1.44%. Following the increase, the final subscription coverage stood at approximately 2.6 times.

The FSA approved a minimum allocation of 4,000 shares for each subscriber in the small retail investor category. The remaining shares were allocated on a pro-rata basis, at approximately 19.4% of the outstanding shares requested after the initial allocation, in accordance with the prospectus.

For investors in the large retail category, shares were allocated on a pro-rata basis at approximately 30.8% of the total shares requested.

The retail offer, conducted from October 28 to November 2, formed the second phase of Asyad Group's planned sale of an additional 6.25% stake in its shipping subsidiary.

The first phase involved the allocation of 260,437,214 ordinary shares, representing 5% of Asyad Shipping's issued share capital, to institutional investors through a private placement conducted using an accelerated book-building process. The institutional tranche was also oversubscribed, reflecting strong demand from investors in Oman and international markets.

With the FSA's approval of the allocation results, the process moves towards completing subscription-related procedures and listing the shares, in coordination with Muscat Clearing and Depository and the Muscat Stock Exchange.

Muscat Daily