The Suez Canal expects its revenues to increase by $700 million annually after transit fees hike by 15% in 2023, CNBC Arabia TV channel quoted the chairman of the authority managing the canal, Osama Rabie, as saying on Sunday.

Rabie also said the authority aims to list shares of 10 to 15% of its subsidiary Canal Mooring company on the local stock market by the end of the current year.

(Reporting by Omar Fahmy and Moataz Mohamed; Editing by William Maclean)