EFG Hermes to lead Egypt’s Misr Life Insurance IPO – ministry
Egypt has appointed EFG Hermes as the bookrunner for the planned sale of up to a 20 percent stake in Misr Life Insurance, according to a statement from the Ministry of Investment and Foreign Trade on Sunday.
The appointment was made by a technical committee comprising experts from Misr Insurance Holding and Misr Life Insurance, under the supervision of the Sovereign Fund of Egypt (TSFE). The decision followed a competitive process that attracted six bids from local and international investment banks, after TSFE issued a public invitation to ensure transparency and equal opportunity.
The offering is part of Egypt’s broader strategy to expand the ownership base of state-affiliated companies through the Egyptian Exchange (EGX), in line with its state ownership policy document. The government aims to improve governance standards, enhance financial performance, and attract both domestic and foreign investment through the program.
Founded in 1900, Misr Life Insurance is one of Egypt’s largest insurers, holding an estimated 22 percent share of the life insurance market. The company reported equity of about 42 billion pounds as of September 2025, supported by steady earnings growth, according to the ministry statement.
The transaction is expected to be completed before the end of the second half of 2026, according to estimates from the appointed investment bank.
The evaluation process included meetings with participating banks, where proposals were assessed based on technical expertise in capital markets, experience in Egypt’s insurance sector, understanding of the company’s operations and IPO strategy, and team capabilities. Financial terms, including fees and execution costs, were also considered.
The planned listing is part of Egypt’s efforts to expand private-sector participation, accelerate state asset offerings, and boost liquidity in the Egyptian Exchange, as authorities seek to strengthen market depth and improve valuation levels.
Attribution: Amwal Al Ghad English