ASYAD Shipping focuses on transporting LNG to global markets with a fleet of very large tankers. Oman’s state-owned logistics group Asyad plans toinitial public offering To its subsidiary (Asyad Shipping) by the end of this year, as Reuters reported, citing informed sources.
Oman’s Asyad Logistics Group has appointed Jefferies and EFG Hermes as advisors for the offering.
Asyad Group, EFG Hermes and Jefferies declined to comment when asked by Reuters on Thursday about the IPO plan.
Details about the size of the offering are not yet available.
ASYAD Shipping focuses on transporting LNG to global markets with a fleet of very large crude carriers, product and chemical tankers and dry bulk carriers.
Asyad Group records that clients and partners include Brazilian mining company Vale and energy companies BP and Shell.
The Asyad Group owns For Oman Investment Authority, the Sultanate’s sovereign wealth fund, has assets worth more than $4 billion and focuses on logistics, transportation, port services, shipping and free zones.
The Oman Investment Authority did not immediately respond to a request for comment.
The Sultanate, which is a non-member producer of the Organization of the Petroleum Exporting Countries (OPEC), is taking steps toOPEC), following in the footsteps of its neighbors the UAE and Saudi Arabia in pushing state-led IPO programs in an attempt to boost privatization strategies.
