Tuesday 25 / February / 2025
Muscat: Asyad Shipping (Under Transformation), one of the world’s leading companies in providing diverse maritime transport solutions, the maritime arm of Asyad Group, held a series of IPO roadshows across seven governorates, including Rustaq, Sohar, Buraimi, Salalah, and Nizwa, culminating in the final event held on Tuesday at the Muscat Stock Exchange (MSX) headquarters in the capital, Muscat. The roadshows took place from February 20 to 25, 2025.
The IPO roadshows highlighted key details of Asyad Shipping’s share offering and showcased the promising investment opportunities the company provides. The sessions focused on raising awareness of the company’s pivotal role in supporting Oman Vision 2040 by contributing to economic diversification, enhancing operational efficiency, and promoting transparency and inclusivity in offering investment opportunities to all target groups.
The roadshows also aimed to boost investment opportunities during the subscription period from February 20 to 27.
During the Muscat roadshow, the leadership team of Asyad Shipping, delivered a comprehensive presentation highlighting the strategic significance of the IPO, emphasising how this transformative step aligns with Oman Vision 2040 by driving economic diversification, enhancing operational efficiency, and creating a robust platform to attract both local and international investments.
The strong support provided by Oman Investment Authority has reinforced Asyad Shipping’s position as the preferred maritime transport partner for the authority’s subsidiaries. Additionally, being a key pillar of Asyad Group’s integrated logistics ecosystem has enabled the company to leverage the group’s capabilities and operational efficiencies at its ports.
Moreover, Asyad Shipping’s astute commercial strategy has secured future revenues of up to $1.9 billion as of September 2024, enhancing operational efficiency and driving record profitability. The company achieved EBITDA margins of approximately 68%, outperforming the global average in the maritime transport sector.
These combined factors have significantly increased the attractiveness of the offering and boosted demand for the shares on offer.
The strong interest from key local and regional investors was instrumental in driving the increasing demand for Asyad Shipping’s public offering. Both Al Mareekh Development and Investment LLC and Falcon Investments LLC, a subsidiary of the Qatar Investment Authority, expressed significant confidence in the company’s competitive strengths. This confidence was grounded in Asyad Shipping’s outstanding financial performance in 2023, with total revenues reaching $945 million.
This trust was further bolstered by the robust support the company receives from the Oman Investment Authority, coupled with the extensive expertise of its management team. Additionally, Asyad Shipping’s impressive profitability, with EBITDA margins reaching approximately 68% in 2024, contributed to enhancing the offering’s appeal and increasing investor demand for the offered shares.
The trading of Asyad Shipping’s shares on the Muscat Stock Exchange is expected to commence on or around March 13, 2025, marking a significant milestone in establishing the company as a trusted partner on the global investment stage.
Asyad Shipping Company is one of the world’s largest diversified maritime providers and a global leader in deep-sea transportation with a full suite of operational capabilities, including liner services, ship management, and chartering activities. Based in Oman, the company operates 89 vessels reaching over 60 countries. Established in 2003, the Company has developed fully integrated operations and cultivated longstanding relationships with a diverse and international top-tier customer base.
Asyad Shipping Company offers a comprehensive range of maritime shipping solutions across five key business segments: Container Ships, Product Tankers, Dry Bulk Carriers, Crude Tankers, and Gas Carriers. The Liner Shipping segment, operated through its subsidiary Asyad Line Co. (“ASL”), connects Omani ports to strategic markets in the GCC, China, and Southeast Asia, while also providing value-added services such as storage, transportation, and customs clearance. Additionally, ASC transports crude oil and liquid cargoes like refined petroleum and chemicals and handles both raw materials and finished goods under long-term contracts in the metallurgical sector.
Asyad Shipping also plays a pivotal role in global LNG and LPG transportation and is poised for growth with plans to expand its fleet by adding two eco-friendly LNG carriers, reinforcing its commitment to sustainability and innovation.
