(Courtesy of SCA website)
(Courtesy of SCA website)

SCA Mulls Offering 20% Stakes of 2-3 Subsidiaries on EGX: Chairman


The Suez Canal Authority (SCA) is considering selling 20 percent stakes in two or three of its companies on Egypt's stock exchange, Chairman Osama Rabie told CNBC Arabia on Tuesday.

Canal Rope and Canal Harbor and Great Projects are two of the companies considered by the SCA.

On a side note, Rabie expected the capital of the authority's fund to reach EGP 100 billion ($6.36 billion) during the next five years, compared with its initial capital of EGP 2 billion.

Earlier this month, Rabie said that the SCA is planning to launch a fund with the aim of contributing to the sustainable economic development of the SCA, as well as confronting potential crises and emergencies.