Offering valued at approximately RO 65.4 mln

• Total offering size: 335,312,913 shares, with a total value of RO 65,386,018, representing 6.44% of the company’s issued share capital.
• Institutional offering: 260,437,214 shares, representing 5% of the company’s issued share capital.

• Individual investor subscription: Total demand reached 194,293,900 shares, with approximately RO 37.9 million paid through 11,205 subscription applications.

• Subscription coverage: Approximately 3 times before the increase in the retail tranche and around 2.6 times after the tranche was increased by 15%.

The Financial Services Authority (FSA) approved the allocation results of the secondary offering of Asyad Shipping shares, which reached 335,312,913 shares following the increase, representing 6.44% of the company’s issued share capital, at an offer price of 195 baisas per share.

Allocation of Phase I to institutional investors included 260,437,214 ordinary shares, representing 5% of the company’s issued share capital. The shares were offered to selected institutional investors through a private placement conducted via an accelerated book-building process.

For the retail tranche, total demand reached 194,293,900 shares, with total payments amounting to RO 37,887,310.5 through 11,205 subscription applications. The tranche was approximately three times covered before the increase in the offering size.

In response to strong demand, the retail tranche was increased by 15%, from 65,109,304 shares, representing approximately 1.25% of the company’s share capital, to 74,875,699 shares, representing approximately 1.44% of the share capital. Following the increase, the subscription coverage stood at approximately 2.6 times.

The FSA approved a minimum allocation of 4,000 shares for each subscriber in the small retail investor category, with the remaining shares allocated on a pro-rata basis at approximately 19.4% of the outstanding shares requested after the initial allocation, in accordance with the terms set out in the prospectus. For the large retail investor category, shares were allocated on a pro-rata basis at approximately 30.8% of the total shares requested.

The approval of the allocation results paves the way for completing the procedures relating to subscribers and listing, in coordination with Muscat Clearing and Depository and the Muscat Stock Exchange.