Offering Approximately 1.042 Billion Shares Valued at Over 128 Million Omani Rials

The Financial Services Authority announces the approval of the public offering prospectus for Asyad Shipping Company (ASCO) S.A.O.G., which is in the process of transitioning into a public joint-stock company. The offering consists of approximately 1.042 billion shares, representing 20% of the company’s capital. According to the prospectus, 25% of the offering is allocated to individual investors. The subscription period for the first category, representing institutions, will run from February 20 to February 27, 2025, while the subscription period for the second category, representing individual investors, will be from February 20 to February 26, 2025. Individual investors will subscribe at a price of 123 baisas per share, while the institutional subscription price will be determined through a book-building process within a price range of 117 to 123 baisas per share.

Asyad Shipping Company is a subsidiary of Asyad Group S.A.O.C., which is owned by the Oman Investment Authority. The share offering aligns with the authority’s strategy of divesting certain government assets and supports the goals of "Oman Vision 2040," which aims to attract domestic and foreign investments. This offering is also part of efforts to diversify and expand the investor base, providing an opportunity for investors to invest in one of Oman’s leading maritime transportation companies.

Regarding the category distribution, the prospectus outlines that the shares are divided into three main groups: institutional investors (first category), individual investors (second category), and key investors. The institutional category (first category) is allocated 45% of the total offering, split equally between local and regional/international institutions. The minimum subscription for this category is 100,000 shares, with no maximum limit.

For the individual investor category (second category), 25% of the total offering is allocated. Within this category, high-net-worth individual investors must subscribe to at least 81,400 shares in multiples of 100 shares, with no upper limit. Meanwhile, retail individual investors can subscribe to a minimum of 1,000 shares and a maximum of 81,300 shares.

A total of 30% of the offering is allocated to key investors, who have subscribed to 312,524,657 shares valued at over 40.83 million Omani rials. This category includes qualified investors from both Oman and international markets, as stated in the prospectus.

The Financial Services Authority emphasizes that the prospectus serves as the primary source of information regarding Asyad Shipping Company (ASCO). It has been prepared by the issuance manager in accordance with legal requirements to assist investors in making informed decisions. The prospectus provides a comprehensive overview of the company’s financial history, current opportunities, industry challenges, and potential risks. It also details the company’s contractual obligations, expected dividend distributions, and future dividend policies.

The Financial Services Authority encourages individuals and institutions to participate in the awareness campaign conducted by Asyad Shipping Company and the issuance manager. This will provide potential investors with essential information needed to make well-informed investment decisions