The Egyptian government aims to complete the procedures for listing Misr Life Insurance Company on the Egyptian Exchange before the end of 2026, according to Dr. Mohamed Farid Saleh, Minister of Investment and Foreign Trade.
Misr Life, the country’s biggest life insurer, is currently in negotiations with prospective large investors and engaged in other preparatory work for the IPO. A stake of up to 20% in Misr Life will be offered.
Dr Farid was speaking at the launch of a training programme to build the readiness of government companies temporarily listed on the Egyptian Exchange, according to local media reports. There are at present 20 such companies. A temporary listing serves to build corporate governance readiness and market visibility before an actual IPO. At this stage, shares are not floated and no prospectus is filed.
Misr Holding Insurance Company, owned 100% by The Sovereign Fund of Egypt, is the parent of Misr Life, which commands a share of over 20% of Egypt’s life market.