Egypt: SCA's Canal Mooring & Lights Co to launch IPO by early 2025

The authority is targeting to achieve $9bln in revenues from the canal in the current fiscal year (FY) 2024/2025

Staff Writer, Arab Finance

July 16, 2024

PHOTO

The Suez Canal Authority's (SCA) affiliate company Canal Mooring & Lights Co. is set to be listed on the Egyptian Exchange (EGX) in early 2025, the SCA's Chairman Osama Rabie told Asharq Business.

The authority is targeting to achieve $9 billion in revenues from the canal in the current fiscal year (FY) 2024/2025, up from $7.2 billion a FY earlier, Rabie added.

He also highlighted that the tensions in the Red Sea are still impacting the Suez Canal significantly.

The CEO of the Sovereign Fund of Egypt (TSFE) Ayman Soliman previously announced that Egypt is expected to resume its initial public offering (IPO) program by early 2025.

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.

ZAWYA NEWSLETTERS

RELATED ARTICLES

ZAWYA NEWSLETTERS

LATEST VIDEO