Misr Life Insurance's Divestment Plan: Open Bidding Process for Investment Banks

The Sovereign Fund of Egypt (TSFE) has initiated a process inviting investment banks and specialized financial institutions to bid on managing the divestment of up to 20% of Misr Life Insurance. This follows the Egyptian Exchange (EGX) listing committee's provisional approval for listing the insurance company's shares. Currently, Misr Life Insurance is fully owned by the Misr Insurance Holding Company, which operates under TSFE.

This strategic move is part of a broader government initiative aimed at diversifying state ownership and accelerating the initial public offering (IPO) process. The goals include increasing private sector participation in the economy, enhancing asset management, and generating new investment opportunities within the insurance industry.

Misr Life Insurance holds approximately 22% of Egypt's life insurance market. As of September 2025, its shareholders’ equity reached EGP 42 billion, reflecting robust profit growth and operational success. The selected investment bank will lead the offering's promotion, manage the book-building process, and engage with both local and international investors to maximize transactional value.

Eligible applicants must have licenses from relevant authorities and a proven five-year track record in capital markets, particularly in mergers and acquisitions in the insurance and financial services sectors. Technical submissions must include a thorough analysis of the insurance sector, an initial valuation, suggested valuation methods, and a strategic marketing plan.

Bidders are also required to propose a transaction structure, list prospective investors, and include resumés of key team members. Interested investment banks must submit an introductory profile and previous work to the designated email by March 8, 2026, for review. Successful applicants will receive a non-disclosure agreement (NDA) to access comprehensive company information, with final bids due by March 18, 2026.

TSFE emphasizes that initial submissions do not guarantee automatic approval or final qualification. The fund may selectively distribute NDAs based on its criteria, and all applicants are expected to comply with the stipulated conditions of the announcement.