{"id":71709,"date":"2023-06-22T00:00:00","date_gmt":"2023-06-22T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/22\/egypt-to-ipo-suez-canal-company-on-the-egx\/"},"modified":"2023-06-22T00:00:00","modified_gmt":"2023-06-22T00:00:00","slug":"egypt-to-ipo-suez-canal-company-on-the-egx","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/logistics\/2023\/06\/22\/egypt-to-ipo-suez-canal-company-on-the-egx\/","title":{"rendered":"Egypt to IPO Suez Canal company on the EGX"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"\"> <\/span><span style=\"font-weight:700\">SCA to IPO Canal Mooring and Lights: <\/span><span style=\"\">The Suez Canal Authority\u2019s (SCA) <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.cml-egypt.com\/\" style=\"\">Canal<\/a><\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"http:\/\/www.cml-egypt.com\/\" style=\"\">Company for Mooring and Lights (CCML)<\/a><\/span><span> is set to sell a 20% stake in an IPO on the EGX, SCA boss Osama Rabie said at a presser yesterday, according to Egyptian news outlet Amwal Al Ghad. The company will be transferred to the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/89a13be7-5a5a-49af-9941-9f1f14fff73c\" style=\"\">newly established holding company<\/a><\/span><span style=\"font-weight:400;\"> that will obtain ownership of some of the authority\u2019s assets earmarked for privatization. Rabie didn\u2019t give an indication of when the SCA could proceed with the IPO.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">REMEMBER- <\/span><span>Earlier this month, the ministers approved the establishment of a new holding company to handle \u201cmanaging and investing\u201d the SCA\u2019s assets. Two of its companies \u2014 CCML and the Port Said Company for Engineering Works and Marine Construction \u2014 are being transferred to the company. CCML was among the <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/a94808c5-7a0c-4027-a786-804f2dc35954\" style=\"\">32 companies named on the Egyptian government\u2019s privatization<\/a><\/span><span style=\"font-weight:400;\"> list earlier this year.<\/span><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><span style=\"font-weight:700\">This is the second Suez Canal IPO announcement this month:<\/span><span> The board of the Suez Canal Economic Zone earlier this month <\/span><span style=\"text-decoration-skip-ink:none;-webkit-text-decoration-skip:none;\"><a href=\"https:\/\/enterprise.news\/logistics\/en\/news\/story\/4a66face-06d6-46a1-808b-7900ab516f71\" style=\"\">agreed to sell a 20% stake<\/a><\/span><span style=\"font-weight:400;\"> in the Port Said Container and Cargo Handling Company on the Egyptian bourse.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>This is the second Suez Canal IPO announcement this month<\/p>\n","protected":false},"author":1,"featured_media":71710,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[229],"tags":[898,17,228,900,899,194],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-71709","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-canal-company-for-mooring-and-lights","tag-enterprise-logistics","tag-ipo-watch","tag-osama-rabie","tag-state-privatization-program","tag-suez-canal-authority","wpautop","entry"],"acf":{"mongo_id":"74ce926e-e72c-4d8e-b962-20bd9d3d4506","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2023\/6\/1135.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Egypt to IPO Suez Canal company on the EGX","related_issue":[71700],"teaser":"This is the second Suez Canal IPO announcement this month","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2023\/6\/.74a71b72-59b8-4c0c-b2af-b93e128a971a.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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