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Thndr Claps » EGY Claps » Economy 🏙 » Suez Canal companies still on the IPO schedule 🗓

Suez Canal companies still on the IPO schedule đź—“

by Omar El Shorafa
August 4, 2022

The Clap
The Suez Canal Authority is seeking to list 3 of its subsidiaries on the EGX by the end of this year as per Osama Rabie’s, Chairman of the Suez Canal Authority, statement to Al Arabiya.

Background
Rabie had announced in February 2022 that the Suez Canal Authority plans to list 2 subsidiaries in the EGX, Canal Harbor & Great Projects and Canal Rope.

The Deets
Rabie said that the companies have not yet been announced as the authority is still studying and choosing the most profitable companies. This study is taking place between the Suez Canal Authority and the Ministry of Finance.

Size of Listing
Rabie stated that a 10%-15% stake of the selected companies will be listed.

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