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Monday, 30 July 2018

Misr Life Insurance to list on the EGX in 1Q2019

IPO WATCH- Misr Life Insurance plans to list on the EGX in 1Q2019: It looks like state owned Misr Life Insurance could be part of the second wave of the state privatization program, according to remarks attributed to company chairman Ahmed Abdel Aziz. He said the company is working on plans that will see it complete a valuation study and hire advisors in time to offer 15-30% of the company’s sharesin 1Q2019. Misr Life Insurance’s EGM had recently voted to approve the IPO, he tells Amwal Al Ghad.

This brings the number of companies in the state privatization program to 24: Misr Life Insurance had not been named among the 23 companies slated to be part of the state privatization program when the list was announced back in March. Its parent company, Misr Insurance Holding, is on the list and its general assembly former voted in favor of listing both companies back in May in a move sanctioned by then-Public Enterprises Minister Khaled Badawy.

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