Egypt plans to launch Misr Life Insurance IPO by June-end

Egypt plans to list state-run Misr Life Insurance in an initial public offering (IPO) of 25 percent of its shares by end of this June, an official said on Sunday.

Misr Insurance Holding Company (MIHC), the parent company of Misr Life Insurance, is waiting for the Egyptian government IPO committee’s decision to set the IPO launch date, said chairman Basel El Hini in a phone interview.

In April 2021, MIHC signed an agreement with government-owned financial institution NI Capital to advise on Misr Life’s IPO on the Egyptian stock exchange (EGX). It has tapped Ernst & Young and BDO Khaled & Co. for compliance with international standards and Zaki Hashem & Partners (ZH&P) as the legal counsel.