Misr Life to IPO on the EGX by 2H2022
Misr Ins. Holding (MIH) is looking to list 25% of its subsidiary Misr Life Ins. on the EGX during the second half of 2022, MIH Chairman Basel El Hini told us, confirming statements first picked up by Al Mal. El Hini had previously said that the IPO will take place by the end of this year or early next year, but naturally cautioned that the date of the IPO would depend on market conditions.
All aboard the state privatization program: El Hini’s statements come as state-owned fintech platform and payments infrastructure provider e-Finance opened retail subscriptions for its long-awaited IPO. We’re also anticipating IPOs from the likes of Banque du Caire and Ghazl El Mahalla. Finance Minister Mohamed Maait said that up to five state companies will be offering shares on the EGX during the current fiscal year, which ends in June 2022.
Advisors: MIH has appointed NI Capital as its financial advisor, but is yet to select an investment bank to manage the offering.