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CAIRO, July 6 (Reuters) - Egypt's state-owned Misr Insurance may launch an initial public offering of its life unit by July 2010, if conditions permit, but the state will keep a majority, the Insurance Holding Company chairman said on Monday. "If the market condition permits and all the requirements have been fulfilled, it could be the end of the fiscal year (2009/10 for an IPO) or the beginning of the new (fiscal) year," Mahmoud Abdallah told Reuters, clarifying earlier remarks suggesting a sale could take place by end-2009. Egypt's financial year starts July 1. Asked how much would be offered in the IPO, he said: "That all depends on the market appetite, but we have no intention at this stage to lose control." (Writing by Edmund Blair) Keywords: EGYPT INSURANCE/IPO (alastair.sharp@reuters.com; Cairo newsroom +20 2 2578 3290) COPYRIGHT Copyright Thomson Reuters 2009. All rights reserved.
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