Misr Could Face IPO Value Scrunity

The forthcoming privatisation of Misr Insurance’s life operations through an IPO could be faced with valuation challenges, a report suggests. In the Egypt Insurance Report for Q2 2010, determining a value for Misr’s life assets that is both reasonable from the point of view of the government and potential buyers “is one of the major challenges”. The report says challenges could arise because the latest premium figures for the Insurance Holding Company, the state-owned enterprise which overseas Misr, have not yet been released.

IPO On The Cards For Saudi Insurer

Solidarity Saudi Takaful Company is gearing up for an initial public offering that will see the company issue 22.2 million shares, according to reports citing chairman Prince Khalid Talal bin Abdulaziz Al Saud. The IPO, which is open to subscription from March 22-28, will provide 40% of the company’s authorised capital. Bahrain’s Solidarity Group and Saudi investors that make up the Solidarity Saudi Takaful Company.