RTR: Oman's Asyad Group plans to sell at least 20% of shipping unit via IPO

REUTERS reports:

Oman’s state-owned logistics firm Asyad Group plans to sell shares in its shipping subsidiary through an initial public offering, it said on Wednesday, as part of the Gulf country’s privatisation drive.

The group, owned by Oman’s sovereign wealth fund, plans to sell a stake of at least 20% in Asyad Shipping Co and float it on the Muscat stock exchange, it said in document detailing its intention to float.