Asyad Group, the conglomerate backed by Oman’s sovereign wealth vehicle, is weighing the sale of more Asyad Shipping Co. shares as it seeks to increase the company’s free float to meet regulatory requirements, people familiar with the matter said.
Those people said the contemplated transaction could take place in the second half of the year and is intended to help Asyad Shipping reach a minimum public free-float level of 25% mandated by the Omani regulator. To hit that threshold Asyad Group would need to sell at least an additional 5% stake in the shipping business.
Based on Asyad Shipping’s present market capitalisation, a 5% block equates to just under $190 million. The sources cautioned that the eventual size of any sale might be larger than that minimum, but they also stressed that no final decision has been taken.
Asyad Group previously sold a 20% stake in Asyad Shipping during the company’s initial public offering in February 2025, raising roughly $333 million at that time. Since the listing, shares in Asyad Shipping have doubled, according to the people.
Asyad Shipping functions as the maritime arm of the government-backed conglomerate and is part of the broader infrastructure and logistics operations controlled by Asyad Group.
Market participants and observers will be watching for timing and size should the parent decide to proceed. The people familiar with the matter provided the outline of the plans but noted that discussions are ongoing and that final terms, if any, have not been set.
Because the situation depends on decisions yet to be made, the exact scope and market impact of any share disposal remain uncertain. Stakeholders in Oman’s equity market, and investors focused on regional shipping and logistics equities, would likely be most directly affected by any issuance of additional free-float shares.
Summary of reported positions:
- Asyad Group is considering selling additional Asyad Shipping stock to increase free float.
- The sale would aim to bring Asyad Shipping’s public free float to at least 25% as required by the regulator.
- A minimum 5% stake would need to be sold, worth just under $190 million at current market value; the final size could be larger.