Oman’s Asyad Shipping, a subsidiary of state-controlled logistics giant Asyad Group, has raised $333m through an initial public offering on the Muscat Stock Exchange. The IPO involved more than 1bn shares, of which 75% were allocated to institutional investors. The anchor investors, Mars Development and Investment, an Omani state-owned entity, and Falcon Investments, a subsidiary of the Qatar Investment Authority, bid for 10% and 20% of the offer share, respectively. Based on the final offer price, the company’s market capitalisation on listing will be about $1.7bn. Shares are expected to start trading on or about March 12. Established in 2003, Asyad boasts a fleet of around 90 ships, including tankers, dry bulk vessels, and LNG carriers. Last July, the Middle Eastern owner ordered four VLCCs worth around $520m at Hanwha Ocean in South Korea, with deliveries set for 2026 and the first quarter of 2027. googletag.cmd.push(function() { googletag.display('div-gpt-ad-1_95_0_1_2'); }); TagsOman