Daily News Egypt understands that Egypt will decide on the acquisition bids from a company affiliated to the Qatar Investment Authority for Port Said Container & Cargo Handling Company (PSCCHC) and Damietta Container & Cargo Handling Company (DCHC), and then both enterprises will be offered on the stock market. The Qatari offers seek to acquire the largest possible shares of the two companies. Last Thursday, the Board of Directors of the Suez Canal Economic Zone (SCZONE) approved offering 20% of the PSCCHC on the Egyptian Exchange (EGX). Walid Gamal El-Din, Chairperson of the SCZONE, said that SCZONE owns 39% of the PSCCHC’s shares. Sources told Daily News Egypt earlier that up to 20-25% of the two companies were meant to be offered before the Qatari acquisition bids emerged.

Source: Daily News Egypt June 12, 2023 18:10 UTC