Arab Finance: EFG Hermes, the investment banking arm of EFG Holding, has successfully advised on the $333 million initial public offering (IPO) of Asyad Shipping Company on the Muscat Stock Exchange (MSX), as per an emailed press release.

Asyad Shipping, one of the world’s largest diversified maritime providers, offered 20% of its total issued share capital through the sale of 1,041,748,856 existing shares at Bzs 123 per share, valuing the company at OMR 641 million ($1.7 billion).

The company began trading on March 12th under the ticker ASCO.

Founded in 2003, Asyad Shipping operates a fleet of 89 multi-purpose vessels, serving over 60 countries across Asia, the Middle East, North Africa, Europe, and the Americas. Wholly owned by Asyad Group, the company benefits from the Group’s advanced infrastructure, integrated ports, and free zones, enhancing its efficiency in global shipping and trade.

EFG Hermes acted as a joint global coordinator on the transaction.

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