Farid said the offering targets the sale of 20% of the company’s shares, with expected proceeds of approximately EGP 14 billion, positioning it among the largest anticipated initial public offerings on the Egyptian Exchange, during an interview in a television program El Hekaya with TV host Amr Adib.
Mohamed Farid, Egypt’s Minister of Investment and Foreign Trade, announced that the government is approaching the execution of one of the most significant offerings in the capital market, the sale of a stake in Misr Life Insurance Company, as part of the state’s privatization program aimed at attracting investment and strengthening private sector participation.
Farid said the offering targets the sale of 20% of the company’s shares, with expected proceeds of approximately EGP 14 billion, positioning it among the largest anticipated initial public offerings on the Egyptian Exchange, during an interview in a television program El Hekaya with TV host Amr Adib.
He noted that the timeline indicates the offering could be completed by the end of June or within the first two weeks of July 2026, adding that the government will announce the investment banks managing the transaction within two weeks, a move that signals tangible progress in implementing the state offering program.
Misr Life Insurance is considered one of the leading entities in Egypt’s insurance sector, holding a dominant position in life insurance activities.
The company operates under Misr Insurance Holding Company, which is currently affiliated with Egypt’s Sovereign Fund, as part of the state’s strategy to restructure assets and maximize their market value.
Regarding the planned offering of Banque du Caire, Farid indicated that preparations are still underway, with execution expected during the second half of the current year, in coordination with the Central Bank of Egypt, as part of a broader plan to modernize the banking sector and enhance its efficiency.
Banque du Caire, which is owned by Banque Misr, has been provisionally listed on the Egyptian Exchange since 2017, with previous plans to float a portion of its shares to the public. However, the offering has been postponed multiple times.
Through these offerings, the government aims to stimulate capital market activity, increase liquidity, and attract both local and international investors, thereby supporting economic stability amid ongoing regional and global challenges.
Earlier in April, Hashem El Sayed, CEO of the State-Owned Enterprises Unit and Assistant to the Prime Minister, announced the completion of Banque du Caire’s prospectus, an important preparatory step toward listing the bank on the Egyptian Exchange under the state privatization program.
He stated In remarks to Al Arabiya Business that the timing of the offering will depend on local and global market conditions to ensure the best possible valuation and attract the widest base of investors, particularly amid current volatility in financial markets.
According to previous government statements, the plan targets the sale of 30% to 40% of the bank’s shares, with the aim of raising up to EGP 32 billion, equivalent to roughly $650 million.
Negotiations to sell the bank to Emirates NBD were halted last year following disagreements over valuation, as the government maintained a valuation of $1.8 billion, compared with an Emirati offer of approximately $1.5 billion.
Government estimates place the bank’s fair value at around EGP 78 billion, while EFG Holding (HRHO) and CI Capital Holding (CICH.CA) have been appointed to manage the offering.
In parallel, the Egyptian Exchange has seen increased activity in listing state-owned companies, with six companies approved for temporary listing and applications received from five additional firms.
These companies span diverse industrial and mining sectors, including El Nahda Industries, Egyptian Iron Alloys Company, and El Nasr Mining Company, reflecting a broader push to expand the base of listed companies and revitalize capital market activity.
