Oman’s Asyad is reportedly planning to IPO Asyad Shipping this year

Omani national logistics firm Asyad Group is planning an IPO of its LNG transport arm Asyad Shipping by the end of year, Reuters reported on Friday, citing people with knowledge of the matter. The company has reportedly hired Jefferies Group and EFG Hermes as advisers on the proceedings. Details of the size of the offering were not revealed. Asyad Group, Jefferies and EFG Hermes all declined to comment when approached by Reuters last week.

This has been in the cards: Asyad said in 2021 that it was considering selling up to 40% of its shipping subsidiary, Reuters reported at the time. More broadly, Asyad has been planning to unload its non-strategic assets for at least a couple of years, Chief Executive Abdulrahman Al Hatmi said in a televised interview with Asharq in 2022. The firm said it would be looking into private sector participation though IPOs or directly through assets.

About Asyad Shipping: Asyad Shipping mainly functions as an LNG transporter, with British multinational oil and gas firms BP and Shell as well as Brazilian miner Vale among the list of its partners and customers. Backed by Oman’s sovereign wealth fund the Oman Investment Authority, parent company Asyad has over USD 4 bn of assets and focuses on logistics, transportation, port services, shipping and freezones.

Growing its fleet potential: Asyad Shipping inked an agreement in December with Oman LNG for a long-term charter of two LNG carriers. Asyad will be chartering two 174k cu meter new builds from South Korean ship manufacturer Hyundai Samho Heavy Industries, for delivery by June 2026.