Egypt Prepares for Misr Life Insurance IPO with EFG Hermes as Coordinator

Misr Life Insurance IPO Details Announced

The Sovereign Fund of Egypt (TSFE) has appointed EFG Hermes as the sole global coordinator for the initial public offering (IPO) of Misr Life Insurance Company on the Egyptian Exchange (EGX). The IPO will involve the sale of a 20% stake in the company, aligning with the Egyptian government’s strategy to increase private-sector participation in the economy and broaden the ownership base of state-owned enterprises.

This IPO is part of a broader initiative under the State Ownership Policy, which aims to enhance the valuation of state assets, improve governance, and strengthen the financial and operational metrics of these entities. The TSFE had previously solicited proposals from investment banks to manage and underwrite the IPO, receiving six bids from various local and international firms.

Selection Process and Timeline for the IPO

A specialized committee was formed to ensure transparency and efficiency in the selection process. This committee, composed of experts from the boards of directors of Misr Holding Insurance Company and its subsidiary, Misr Life Insurance, evaluated the technical and financial proposals submitted. The evaluation culminated in the selection of EFG Hermes Investment Bank as the manager for the IPO.

The target date for launching the offering is set before the end of the second half of 2026. Misr Life Insurance, founded in 1900, holds a significant position in Egypt’s life insurance sector, commanding approximately 22% of the market share with shareholders’ equity reaching around EGP 42 billion as of September 2025.

Government’s Broader IPO Strategy

In April, Mohamed Farid, the Minister of Investment and Foreign Trade, indicated that the government plans to announce the timelines for the IPOs of both Banque du Caire and Misr Life Insurance during May and June. These forthcoming listings are part of the government’s comprehensive IPO program, which includes the preparation for the offerings of six state-owned companies across various sectors.

Additionally, the government is exploring a proposal to consolidate petroleum assets under a single entity to attract significant international investment funds. This strategy reflects Egypt’s commitment to enhancing its financial market and attracting foreign capital.

Frequently Asked Questions

What is the purpose of the Misr Life Insurance IPO?

The IPO aims to increase private-sector participation in the economy and broaden the ownership base of state-owned enterprises.

Who is managing the Misr Life Insurance IPO?

EFG Hermes has been appointed as the sole global coordinator and bookrunner for the IPO.

When is the IPO expected to launch?

The offering is targeted for before the end of the second half of 2026.

What is the market share of Misr Life Insurance?

Misr Life Insurance holds approximately 22% of Egypt’s life insurance market.

What other IPOs are planned by the Egyptian government?

The government plans to announce IPOs for Banque du Caire and six other state-owned companies as part of its broader IPO strategy.