Asyad to list at least 20% of Asyad Shipping in Muscat IPOAsyad to list at least 20% of Asyad Shipping in Muscat IPO
Up to $2.7bn in medium term investments planned as Asyad prepares to leverage Oman green hydrogen, LNG, oil and gas growth.

Oman’s Asyad Group has announced its intention to float at least 20% of its shipping arm Asyad Shipping Company on the Muscat Stock Exchange.
Asyad Shipping Company said it operated a fleet of 89 ships as of 30 September, 2024. Its website lists a fleet of 95 vessels comprising 22 crude tankers, 34 product tankers, 23 dry bulk vessels, 10 gas carriers and five container ships.
Asyad Group is owned by Oman’s sovereign wealth fund Oman Investment Authority (OIA), which has stated its intention to seek IPOs for many of its assets. In 2024, OIA announced its largest IPO of 25% of OQ Exploration & Production, the largest in the history of the Muscat Stock Exchange.
At least 20% of Asyad Shipping is on offer, with scope to upsize the IPO by 15%. The group said the listing “would provide investors with the opportunity to invest in one of the world’s largest diversified maritime shipping companies and a key player in the Omani economy.“
Asyad Shipping has two LNG carriers on order and have a charter in place with Oman LNG ready for delivery in 2026. Beyond its fleet of container ships, product tankers, dry bulkers, crude tankers, container ships and gas carriers, Asyad Shipping has a chartering company and ship management companies servicing its own vessels and chartered-in tonnage.
“ASC is well-positioned to leverage growth in Omani oil, gas, and LNG production, as well as advancements in green hydrogen projects. As a preferred partner for strategic Omani clients, it stands to benefit from strong economic and project growth in Oman,” Asyad Group said in its listing announcement.
The company has a $1.9bn revenue backlog and planned investments of $2.3bn-$2.7bn over the medium term, it said, to be funded by a mix of its own resources and bank financing.
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