The Oman Investment Authority (OIA) is kicking off its next wave of divestments with the planned IPO of 20% of Asyad Shipping. Bloomberg reports that the OIA eyes a $1bn valuation. Asyad operates 89 vessels including oil tankers and LNG carriers.
OIA last year raised over $2.5bn in sell-offs, and is aiming for the same again for 2025 (MEES, 22 November 2024) including a stake in the Oman Electricity Transmission Company (OETC). Muscat has told the IMF that it plans to divest a further 25-29 assets by 2029. Of 2023-24 divestment proceeds, $2.2bn was used to pay down state-owned firms’ debts, the IMF says. (CONTINUED - 98 WORDS)