Asyad Shipping successfully lists on Muscat Stock Exchange

(Posted on 12/03/25)

Asyad Shipping Company SAOG, one of the world’s largest diversified maritime providers and a global leader in deep-sea transportation, has successfully listed on the Muscat Stock Exchange following the completion of its IPO. The Company raised c. OMR 128.1 million (equivalent to c. USD 332.8 million) from domestic and international investors.

The company offers a comprehensive range of maritime shipping solutions across five key business segments: Dry Bulk Carriers, Container Ships, Product Tankers, Crude Tankers, and Gas Carriers.

The bell ringing ceremony took place at 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 OMR 641 million (c. USD 1.66 billion).

The Company has established a robust dividend policy, demonstrating its commitment to shareholder returns. The Company intends to declare a dividend of USD 58.0 million (approximately OMR 22.3 million) payable in March 2025 and a dividend of USD 75.0 million (approximately OMR 29.0 million) payable in September 2025. Looking ahead, based on projected performance for the year ending December 31, 2025, the Company expects to declare a dividend of USD 75.0 million (approximately OMR 29.0 million) payable in March 2026.

In 2026, the Company expects to declare a fixed annual dividend of USD 150.0 million (approximately OMR 58.0 million), 50% of which, amounting to USD 75.0 million (approximately OMR 29.0 million), is expected to be paid in September 2026 on the basis of the Company’s performance for the six months ending 30 June 2026, and the remaining 50% of which, amounting to USD 75.0 million (approximately OMR 29.0 million), is expected to be paid in March 2027 on the basis of the Company’s performance for the year ending 31 December 2026.

In 2027, the Company expects to declare a dividend based on 95% of the audited net income for the year ending 31 December 2027. The Company expects to pay 50% of this dividend in September 2027 and 50% in March 2028.

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 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. This listing elevates the market capitalization of the Exchange to approximately OMR 27,831,000,000, and the company will be one of the ten largest listed companies on the Exchange. Asyad Shipping’s listing is aligned with the Oman Investment Authority’s strategy to divest from some government assets, to support the economic diversification efforts and achieve the objectives of Oman Vision 2040.”