Port Said Container and Cargo Handling is offering 20% stake on the EGX

CAIRO – 8 June 2023: The Suez Canal Economic Zone’s (SCZone) board of directors approved the selling a 20 percent stake in Port Said Container and Cargo Handling (PSCCHC) in an IPO on the Egyptian Exchange (EGX) as part of Egypt’s IPO program. SCZone currently holds a 39 percent stake in PSCCHC.

This was during SCZone’s fifth board meeting that witnessed the attendance of Walid Gamal El-Din, SCZone’s Chairman and Ministers Hala El Said, Rania Al Mashat, Kamel Al-Wazir, among other government officials to discuss and approve new projects in the SCZone across many industrial sectors that the zone aims to localize until 2025.

During the meeting, SCZone’s Chairman also announced that foreign investments in the authority’s regions and ports amount for almost $2.5 billion and national investments amounting for almost LE 3.6 billion, during the period from July 2022 to May 2023.