Arab Finance: The technical committee, held under the supervision of the Sovereign Fund of Egypt (TSFE), selected EFG Hermes as the sole global coordinator and bookrunner for Misr Life Insurance Company's initial public offering (IPO) on the Egyptian Exchange (EGX), according to a statement.
The IPO involves the sale of a 20% stake in Misr Life Insurance. This aligns with the government's objectives to enhance private-sector participation in economic activity and expand the ownership base of state-owned enterprises via EGX.
The offering also comes in line with the framework of the State Ownership Policy, which aims to increase the value of these assets, enhance governance levels, improve financial and operational indicators, and deepen the capital market.
The TSFE previously invited investment banks to submit their technical and financial proposals to manage and underwrite the IPO of a stake in Misr Life Insurance.
The fund received six bids from several local and international investment banks interested in managing the promotion and underwriting process.
To ensure the highest levels of transparency and efficiency, a specialized committee was formed, comprising experts from the boards of directors of Misr Holding Insurance Company and its subsidiary, Misr Life Insurance, to study, analyze, and evaluate the submitted bids from both technical and financial perspectives.
Accordingly, the evaluation process resulted in the selection of EFG Hermes Investment Bank as the manager for the IPO. Meanwhile, the target date for the offering is before the end of the second half (H2) of 2026.
Founded in 1900, Misr Life Insurance is a leading player in its sector, holding about a 22% market share of Egypt's life insurance market, with shareholders' equity reaching approximately EGP 42 billion as of September 2025.
In April, Minister of Investment and Foreign Trade Mohamed Farid revealed that the government would announce the timeframe for the IPOs of Banque du Caire and Misr Life Insurance on the EGX during May and June.
The planned listings come as part of the government IPO program, in parallel with the preparation for the offering of six state companies across diverse sectors and a proposal to merge petroleum assets under a single entity to attract major international investment funds.
