EFG Hermes» Completes Advisory on USD 333 Million IPO of «Asyad Shipping Company» on the Muscat Stock Exchange»
Muscat, March 12, 2025
EFG Hermes, an EFG Holding company and the leading investment bank in the Middle East and North Africa (MENA) announced today that its investment banking division successfully completed its advisory on the USD 333 million initial public offering (IPO) of Asyad Shipping Company, one of the world’s largest diversified maritime providers and a global leader in deep sea transportation, on the Muscat Stock Exchange (MSX).
Asyad Shipping offered a total of 20% of its total issued share capital through the sale of 1,041,748,856 existing shares at Bzs 123 per share, implying a market capitalization of OMR 641 million (USD 1.7 billion).
The company began trading today under the ticker ASCO.
Karim Meleka, Co-Head of Investment Banking at EFG Hermes, commented, “The IPO of Asyad Shipping Company on the MSX continues our partnership with Oman and we are proud to have been the most active bank and partner to OIA / OQ’s IPO privatization program, having successfully concluded 3 out of the 5 IPOs to date (since the listing of Abraj Energy)”
About Asyad Shipping
Established in 2003, Asyad Shipping is one of the world’s largest providers of diverse shipping and maritime solutions. It is competitively positioned to meet the needs of high-growth markets such as Asia, the Middle East, North Africa, Europe, and the Americas. ASC operates 89 multi-purpose vessels reaching over 60 countries, linking Omani and global ports, and providing reliable and competitive shipping solutions to all major industrial sectors. Wholly owned by Asyad Group, Asyad Shipping leverages the Group’s advanced infrastructure and shared resources to provide comprehensive solutions to customers around the world. Additionally, its integration within Asyad Group’s major ports, economic and free zones supports the efficient handling, exporting and importing of cargo and containers with reduced waiting times at ports, and thus maximizes its competitiveness and sustainable business growth across major markets.
EFG Hermes acted as a Joint Global Coordinator on the transaction.
About EFG Holding
EFG Holding (EGX: HRHO.CA – LSE: EFGD) is a financial institution that boasts a remarkable 40-year legacy of success in seven countries spanning two continents. Operating within three distinct verticals — the Investment Bank (EFG Hermes), Non-Bank Financial Institutions (NBFI) (EFG Finance), and Commercial Bank (Bank NXT) — the company provides a comprehensive range of groundbreaking financial products and services tailored to meet the needs of a diverse clientele, including individual clients and businesses of all sizes.
EFG Hermes, the leading investment bank in the Middle East and North Africa (MENA), offers extensive financial services, encompassing advisory, asset management, securities brokerage, research, and private equity. In its domestic market, EFG Holding serves as a universal bank, with EFG Finance emerging as the fastest-growing NBFI platform, comprising Tanmeyah, a microfinance player, EFG Corp-Solutions, which provides leasing and factoring services, Valu, a universal financial technology powerhouse, Bedaya for mortgage finance, Kaf for insurance, Fatura, a technology-backed B2B marketplace and EFG Finance SMEs which provides financial services for small and medium enterprises. Furthermore, the company delivers commercial banking solutions through Bank NXT, an integrated retail and corporate banking product provider in Egypt.
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