Asyad Group SAOC, a global integrated logistics provider, today announces its intention to offer at least 20% of the issued share capital in Asyad Shipping Company SAOG through an Initial Public Offering and to list its ordinary shares for trading on the Muscat Stock Exchange.
The Offering comes as part of Asyad Group’s vision to drive its operational growth, diversify its business portfolio, and achieve sustainability and long-term growth. Since its inception through the end of 2023, Asyad Group has consistently delivered a strong and sustainable financial performance, achieving a compound annual growth rate (CAGR) of 21% in revenue and 73% in net profit. This growth has been underpinned by the Group’s expansion into over 90 geographical markets, including into major global economies such as China, India, the United States, and the GCC.
Asyad Group’s success is anchored in its competitive strategy to address global market needs with integrated logistics solutions. This has been made possible by the efforts of a dedicated team of more than 10,000 members who have propelled exceptional growth in the Group’s commercial and operational performance. By combining innovation, expertise, and a customer-centric approach, Asyad Group has established itself as a global leader in the logistics sector.
Established in 2003, Asyad Shipping is one of the world’s largest providers of diverse shipping and maritime solutions. It is competitively positioned to meet the needs of high-growth markets such as Asia, the Middle East, North Africa, Europe and the Americas. ASC operates 89 multi-purpose vessels reaching over 60 countries, linking Omani and global ports, and providing reliable and competitive shipping solutions to all major industrial sectors. It is also distinguished by its long-standing strategic and commercial partnerships with many major international clients.
Wholly owned by Asyad Group, Asyad Shipping leverages the Group’s advanced infrastructure and shared resources to provide comprehensive solutions to customers around the world. Additionally, its integration within Asyad Group’s major ports, economic and free zones supports the efficient handling, exporting and importing of cargo and containers with reduced waiting times at ports, and thus maximizes its competitiveness and sustainable business growth across major markets.
Sohar International Bank has been appointed as the issue manager. Oman Investment Bank, Sohar International Bank, EFG Hermes, Jefferies and JP Morgan, have been appointed as joint global coordinators. Crédit Agricole Corporate and Investment Bank and Société Générale have been appointed as joint bookrunners.
Key details of the offering
Asyad Group SAOC owns 100% of Asyad Shipping prior to the Offering. The Selling Shareholder expects to offer at least 20% of the total issued share capital of Asyad Shipping, with the Selling Shareholder retaining the right to amend the size of the Offering at any time at their sole discretion in line with the applicable laws and the approval of the FSA.
The Offering will be offered in two tranches to eligible and qualified institutional investors in Oman and other institutional investors in a number of countries and retail investors in Oman. It will be conducted in the manner approved by the FSA and will be carried out concurrently.
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., 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, 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.
With one of the largest globally diversified fleets, ASC is competitively positioned to supply high-growth markets, such as Asia, the Middle East and North Africa through its fleet of 89 vessels, with a total aggregate capacity of more than 9.5 million DWT as of 30 September 2024.
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