Story
Oman's Asyad Group Considers Selling Additional Stake in Asyad Shipping
Summary
Oman's state-backed Asyad Group is reportedly considering a sale of an additional stake in its subsidiary, Asyad Shipping Co., to comply with regulatory free float requirements. The potential sale follows a successful initial public offering earlier this year.
Asyad Group, a conglomerate supported by Oman’s sovereign wealth fund, is weighing the sale of an additional stake in Asyad Shipping Co., according to a Bloomberg report citing people familiar with the matter. The transaction could reportedly take place in the second half of the year, though final decisions have not been made.
The primary goal of the potential sale is to increase Asyad Shipping's free float—the portion of shares available for public trading—to at least 25%. This move would align the company with requirements set by the Omani market regulator. To meet this threshold, Asyad Group would need to sell a minimum of an additional 5% stake.
Based on Asyad Shipping’s current market value, a 5% stake is worth just under $190 million. Sources indicated that the eventual size of the sale could be larger than the minimum required, but details remain under consideration.
AdThis development follows Asyad Shipping's initial public offering in February 2025, in which Asyad Group sold a 20% stake and raised approximately $333 million. Since the IPO, shares in the shipping company have reportedly doubled in value. Asyad Shipping serves as the maritime division of the Omani government-backed conglomerate.