EFG Hermes Appointed Sole Global Coordinator and Bookrunner for Misr Life Insurance IPO on EGX

EFG Hermes, an EFG Holding company and the leading investment bank in MENA, announced today that it has been appointed sole global coordinator and sole bookrunner for the planned initial public offering of Misr Life Insurance on the Egyptian Exchange.

The transaction is expected to involve the sale of up to 20% of Misr Life Insurance’s share capital through the IPO, representing a milestone in the Government of Egypt’s efforts to broaden public ownership, deepen the equity market, and unlock value in leading state-owned enterprises. The planned IPO comes in line with the Ministry of Investment and Foreign Trade’s vision to increase private sector participation in the economy and expand the ownership base of public companies through listings on the EGX. The initiative underscores the government’s commitment to using the capital market as a platform for investment, growth, and wider economic participation, and enhances the EGX’s position as a competitive regional exchange.

The Sovereign Fund of Egypt (TSFE) had invited investment banks to submit their technical and financial proposals to manage the promotion and underwriting for the offering of a stake in Misr Life Insurance, which is owned by the Misr Insurance Holding Company, a subsidiary of the Sovereign Fund.

The planned IPO of Misr Life Insurance would add scale, sector diversity to the Egyptian market and create new investment opportunities for local and international investors.