{"id":698640,"date":"2026-05-04T00:00:00","date_gmt":"2026-05-04T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/?p=698640"},"modified":"2026-05-04T02:41:41","modified_gmt":"2026-05-04T02:41:41","slug":"sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/","title":{"rendered":"Sovereign Fund taps EFG Hermes for the 20% Misr Life float"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Good morning, friends. <\/strong>Topping our coverage this morning: Investors in our friends at GlobalCorp, the homegrown non-bank financial services outfit, plan to exit in a private placement that could value the firm at roughly USD 200 mn. The transaction could see up to 100% of the company change hands within the next two to four months as it opens its virtual data room for bidders this week.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We\u2019re also tracking a wave of fresh FDI heading toward our blue economy<\/strong>, as Greece and Algeria pitch new aquaculture investments following the EU\u2019s green light for our farmed fish. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also on our radar this morning:<\/strong> The government is gearing up to fold the automotive industry into its export subsidy program, earmarking EGP 5.5 bn for the upcoming FY to support local automakers.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>***<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/omny.fm\/shows\/enterpriseam-egypt\" style=\"\">WISH THIS MORNING\u2019S ISSUE was a podcast? We\u2019ve got you. Tap or click here<\/a><\/strong> to listen to Morning Drive, a 10-minute version of today\u2019s issue crafted for you to enjoy with your morning coffee, while getting the kids ready for school, <strong>or while stomping around the house wondering where the [redacted] you left your [redacted] reading glasses.<\/strong><strong>***<\/strong><\/p>\n<p class=\"tag-border-left\"> EFG Hermes gets Misr Life IPO nod<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt1\"><\/a>  <strong>Our friends at EFG Hermes<\/strong><strong> are set to quarterback the <\/strong><strong>upcoming IPO of <\/strong><strong>Misr<\/strong><strong> Life Ins. as sole global coordinators and bookrunners<\/strong> after being tapped by the Sovereign Fund of Egypt (SFE), according to a <a target=\"_blank\" href=\"https:\/\/ent.news\/internal\/698625.pdf\" style=\"\">statement (pdf)<\/a>. A 20% stake in the state ins. firm should soon be up for grabs on the EGX as part of a broader state privatization push. The IPO-hopeful, owned by SFE subsidiary Misr Ins. Holding, is <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/29\/heres-why-temporary-listings-are-all-the-rage-right-now\/\" style=\"\">temporarily listed<\/a> but not yet trading.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER<\/strong><strong>- <\/strong>SFE opened the bidding <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/05\/fiscal-pressures-mount-for-egypt-as-cds-levels-rise\/\" style=\"\">in early March<\/a>, with EFG Hermes said to be among four investment banks \u2014 including CI Capital, Al Ahly Pharos, and Arqaam Capital \u2014 <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/28\/firms-line-up-to-quarterback-the-states-ipo-program\/\" style=\"\">vying for the mandate<\/a> to lead the government\u2019s latest wave of offerings. The bidding for phase four of the government\u2019s privatization drive fell far short of its USD 1.9 bn target at only USD 142 mn, but expect a roadshow to shore up more interest by the end of June, if things stay on track.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">Higher gas prices for industry<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt2\"><\/a>  <strong>The Madboul<\/strong><strong>y government has hiked natural gas prices for energy-intensive <\/strong><strong>sectors<\/strong> by USD 2 per mn British thermal unit (BTU), according to a prime ministerial decree published in the Official Gazette. The hike excludes industrial consumers with existing contracts including predefined pricing formulas.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>We were expecting a different turn of events <\/strong>after sources <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/04\/02\/egypt-mulls-flexible-gas-pricing-to-shield-the-state-from-wartime-import-shocks\/\" style=\"\">told us<\/a> that the government had been mulling a flexible, phased pricing structure for natural gas across several sectors in a bid to cushion the state from rising energy import bills while maintaining viable margins for the industrial sector. By opting for a fixed hike instead, the state appears to be prioritizing immediate fiscal relief under its IMF program.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>REMEMBER- <\/strong>We saw domestic fuel prices <a target=\"_blank\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/03\/10\/egypt-hikes-fuel-prices\/\" style=\"\">rise in early March<\/a>, which the government attributed to the war-triggered jump in global energy prices.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<p class=\"tag-border-left\">PSA- <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>WEATHER- <\/strong>It\u2019s another chilly, windy day in Cairo, with a high of 24\u00b0C and a low of 14\u00b0C, according to our favorite weather app.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>It\u2019s even chillier in Alexandria<\/strong>, with a high of 20\u00b0C and a low of 13\u00b0C.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a href=\"https:\/\/sub.ent.news\/menaplus\/\" target=\"_blank\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2026\/4\/1627.gif?ssl=1\"\/><\/a> <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Riyadh to Mumbai. Abu Dhabi to Singapore. Dubai to London. Cairo to Shenzhen.<\/strong><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>The most important business stories in MENA aren\u2019t happening inside MENA anymore<\/strong> \u2014 they\u2019re happening at the edges, where regional capital meets global ambition.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>EnterpriseAM MENA+ is our new flagship newsletter<\/strong>, built to cover the flows of capital, people, and ideas across the Middle East \u2014 and beyond it. AI, geopolitics, the war for talent, sovereign wealth strategy, the changing energy economy, and the new corridors reshaping global trade.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong><a target=\"_blank\" href=\"https:\/\/sub.ent.news\/menaplus\/\" style=\"\">Tap or click here to get your own copy<\/a><\/strong> delivered to your inbox every Monday, Wednesday, and Friday at 12 pm UAE | 11 am KSA | 11 am Egypt.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\">\n<hr style=\"height:2px;border-width:0;color:gray;background-color:gray\">\n<p class=\"tag-border-left\">The big story abroad <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><a id=\"wwtt3\"><\/a> <strong>US fo<\/strong><strong>rces will begin guiding vessels stranded in the Gulf through the Strait of Hormuz <\/strong><strong>today<\/strong>, President Donald Trump <a target=\"_blank\" href=\"https:\/\/truthsocial.com\/@realDonaldTrump\/posts\/116512555123589170\" style=\"\">said<\/a>. With many of these ships running low on provisions, Trump characterized the effort, which he is calling \u201cProject Freedom,\u201d as a \u201chumanitarian gesture,\u201d but offered few concrete details on what this would entail.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Where do US-Iran peace talks stand? <\/strong>Tehran is <a target=\"_blank\" href=\"https:\/\/www.cnbc.com\/2026\/05\/03\/trump-iran-war-peace-proposal.html\" style=\"\">currently reviewing<\/a> Washington\u2019s response to its latest peace proposal, a 14-point framework reportedly designed to end hostilities and lift the naval blockade on the Islamic Republic.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Making waves in the business press is US retailer Gamestop<\/strong>, whose CEO Ryan Cohen <a target=\"_blank\" href=\"https:\/\/www.wsj.com\/business\/deals\/gamestop-is-offering-to-buy-ebay-for-56-billion-ceo-ryan-cohen-says-fd330f5a?mod=hp_lead_pos2\" style=\"\">aims to make an unsolicited bid<\/a> to acquire eBay for some USD 56 bn. Cohen revealed that GameStop has acquired around 5% of the e-commerce player and is proposing a buyout at USD 125 per share. The proposal, consisting of stock and liquid funds, represents a 20% premium over eBay\u2019s Friday closing price.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Also, are blockbuster comedies back? <\/strong>The Devil Wears Prada 2 <a target=\"_blank\" href=\"https:\/\/www.bloomberg.com\/news\/articles\/2026-05-03\/-devil-wears-prada-sequel-pulls-in-233-million-worldwide\" style=\"\">raked in USD 233 mn<\/a> at the box office over its opening weekend, the <a target=\"_blank\" href=\"https:\/\/www.nytimes.com\/2026\/05\/03\/business\/devil-wears-prada-2-box-office.html\" style=\"\">highest figure<\/a> for a traditional comedy in 11 years.<\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/ent.news\/2024\/5\/2495.jpg?ssl=1\"\/><\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>*** It\u2019s Blackboard day:<\/strong> We have our weekly look at the business of education in Egypt, from pre-K through the highest reaches of higher ed. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>In today\u2019s issue:<\/strong> We\u2019re asking if Egypt\u2019s new AI tutor Sia is going to democratize learning across the country, or just dumb down the next generation.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Good morning, friends. Topping our coverage this morning: Investors in our friends at GlobalCorp, the homegrown non-bank financial services outfit, plan to exit in a private placement that could value the firm at roughly USD 200 mn. The transaction could see up to 100% of the company change hands within the next two to four [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":698641,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[12573],"tags":[84,72,9030,370,74],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-698640","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-what-were-tracking-today-10","tag-efg-hermes","tag-enterpriseam","tag-ipo","tag-sovereign-fund-of-egypt","tag-what-were-tracking-today","wpautop","entry"],"acf":{"mongo_id":"ef9d9d75-8bca-40b6-aade-021744b5aaed","order":"2","is_powered_by":true,"story_type":"4","photo_url":"https:\/\/ent.news\/2024\/7\/1417.jpg","photo_position":"above","homepage_title":"","full_issue_title":"SFE hands Misr Life IPO to EFG Hermes","related_issue":[698638],"teaser":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Sovereign Fund taps EFG Hermes for the 20% Misr Life float - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Sovereign Fund taps EFG Hermes for the 20% Misr Life float\" \/>\n<meta property=\"og:description\" content=\"Good morning, friends. Topping our coverage this morning: Investors in our friends at GlobalCorp, the homegrown non-bank financial services outfit, plan to exit in a private placement that could value the firm at roughly USD 200 mn. The transaction could see up to 100% of the company change hands within the next two to four [&hellip;]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\" \/>\n<meta property=\"og:site_name\" content=\"EnterpriseAM Egypt\" \/>\n<meta property=\"article:published_time\" content=\"2026-05-04T00:00:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2026-05-04T02:41:41+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&ssl=1\" \/>\n<meta name=\"author\" content=\"enterpriseam admin\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"enterpriseam admin\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"4 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\"},\"author\":{\"name\":\"enterpriseam admin\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#\/schema\/person\/ca597032db7e4db868359c123cec256d\"},\"headline\":\"Sovereign Fund taps EFG Hermes for the 20% Misr Life float\",\"datePublished\":\"2026-05-04T00:00:00+00:00\",\"dateModified\":\"2026-05-04T02:41:41+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\"},\"wordCount\":895,\"publisher\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/#organization\"},\"image\":{\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&ssl=1\",\"keywords\":[\"EFG Hermes\",\"EnterpriseAM\",\"IPO\",\"Sovereign Fund of Egypt\",\"What We're Tracking Today\"],\"articleSection\":[\"WHAT WE\u2019RE TRACKING TODAY\"],\"inLanguage\":\"en-US\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\",\"url\":\"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/\",\"name\":\"Sovereign Fund taps EFG Hermes for the 20% Misr Life float - 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Topping our coverage this morning: Investors in our friends at GlobalCorp, the homegrown non-bank financial services outfit, plan to exit in a private placement that could value the firm at roughly USD 200 mn. The transaction could see up to 100% of the company change hands within the next two to four [&hellip;]","og_url":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/","og_site_name":"EnterpriseAM Egypt","article_published_time":"2026-05-04T00:00:00+00:00","article_modified_time":"2026-05-04T02:41:41+00:00","og_image":[{"url":"https:\/\/i0.wp.com\/ent.news\/2024\/7\/1417.jpg?fit=%2C&ssl=1","type":"","width":"","height":""}],"author":"enterpriseam admin","twitter_card":"summary_large_image","twitter_misc":{"Written by":"enterpriseam admin","Est. reading time":"4 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/#article","isPartOf":{"@id":"https:\/\/enterpriseam.com\/egypt\/2026\/05\/04\/sovereign-fund-taps-efg-hermes-for-the-20-misr-life-float\/"},"author":{"name":"enterpriseam 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