Asyad Shipping Successfully Lists on Muscat Stock Exchange

Muscat, 12 Mar
(ONA) — Asyad Shipping Company, one of the world’s largest diversified maritime
providers and a global leader in deep-sea transportation, today successfully
listed on the Muscat Stock Exchange (MSX) following the completion of its IPO.
The Company raised RO 128.1 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 baizas
per share, with Asyad Shipping’s market capitalization at approximately RO 641
million (USD 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”.

— Ends/Khalid