The Egyptian government intends to complete the initial public offering of state-owned Misr Life Insurance Company, Egypt's biggest life insurer, before the end of June 2026, according to the Minister of Investment and Foreign Trade, Dr Mohamed Farid.
He said that the investment banks to manage the offering are expected to be announced shortly, according to local media reports.
He pointed out that Misr Holding Insurance Company, owned 100% by The Sovereign Fund of Egypt (TFSE), is the parent of Misr Life Insurance.
TSFE has invited investment banks and specialised financial institutions to submit technical and financial bids to manage the sale of a stake of up to 20% in Misr Life Insurance.
The IPO is intended to enhance the role of the private sector in economic activity, improve asset management efficiency, and create investment opportunities within the insurance sector.
Misr Life holds a 22% share of the life insurance market in Egypt.