Egypt is aiming at offering shares of 25 percent of the state-owned Misr Life Insurance in an initial public offering (IPO) by end of this June, an official told the local press
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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.
