Launch of the Floatation
The public floatation, launched in The Suez Isthmus, Journal de l'union des deux mers (Periodical of the Project for the joining of the Two Seas), number 57, 25 October

In October 1858, a public floatation was officially launched through the channels of the press:

Founded by decree of His Highness the Viceroy of Egypt.

M. Ferdinand de Lesseps, concessionary of the Suez Canal, in fulfilment of the mandate issued to him by His Highness the Viceroy of Egypt, is floating a public company, having ascertained the cooperation of Europe's influential financial institutions. The Suez Canal is intended to re-establish direct communication between the two worlds, which the discovery of the Cape of Good Hope had caused to be broken off. In order to preserve the breadth and universality inherent in this project, M. de Lesseps is launching the floatation in every country.

The aims and the commercial and financial benefits of this project are as follows:

    The right to open up a major shipping canal through the Suez isthmus destined to connect the Mediterranean with the Red Sea and the Indian Ocean, the China Sea etc.;

    The linking of the Nile with the major shipping canal through the Suez isthmus by means of a canal to be used for irrigation and river traffic;

    The development of 133,000 hectares (app. 328,700 acres) of land settled on the Company, of which 63,000 hectares (app. 155,700 acres) can be cultivated, and 70,000 hectares (app. 173,000 acres) form a strip two kilometres (just over a mile) wide along each bank of the canals and around each port.

    The canal through the Suez isthmus reduces the distance of the voyage between Europe and the Indian Ocean by 3,000 leagues, and saves major shipping an enormous sum of money. In view of this the toll of 10 Francs per (metric) tonne, determined by the concessionary decree as the fee payable for shipping using the canal, is considered to be moderate. However, since it will be levied on craft which average 4 million tonnes, it will yield a considerable income, over and above the profits generated by the canal link to the Nile and by the development and sale of the 133,000 hectares of land settled on the Company.

The Company's assets are declared to be 200 million Francs, divided into 400,000 shares of 500 Francs each.

The headquarters of the Company are in Paris.