The Financial Services Authority announced the approval of allocation of the shares of ASYAD (ASCO) based on the categories stated in the prospectus. The offering was covered 1.4 times at a total value of RO 177 million. The share prices is 123 Baisas and value of the offered shares RO 127 million.
Approved allocation results show allocation at 100% for the category of large and small individual investors. Local and foreign institutions were allocated shares by the selling shareholder in consultation with the joint global coordinator as per the terms and conditions stated in the prospectus.
ASYAD is a subsidiary of ASYAD Group SAOC one of the companies of the Oman Investment Authority (OIA). The offering is manifestation of OIA’s policy of divesting certain government assets in line with Oman Vision 2040 that aims to attracting national and foreign investments as well as being part of diversification and expansion of investor base. The offering will allow investors an opportunity to invest in one of most prominent companies in Oman in marine transportation.
It is worth noting that FSA is keen, when considering allocation of shares, to take into account investors segments to expand the base of participation in public offerings to enhance the role of the capital market as a source of effective funding in the national economy.