Middle East

Suez Canal Authority mulls IPO

The Suez Canal Authority is mulling creating a company to list on the local stock exchange as its vehicle to raise funds and manage the development zone planned along the waterway.

The government seeks to “transform the waterway from merely a corridor for tariffs to a logistics area providing transportation, loading, unloading, storage, lodging, and marketing services to all ships passing through, thus raising canal revenues by billions of dollars, especially in foreign currency,” a canal spokesperson said.  [19/05/14]

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