Grace Ashiru
Egyptian fintech company MNT-Halan has made a strong debut on the Egyptian Exchange following an initial public offering (IPO) that raised EGP 7.84 billion, approximately $150 million, attracting significant interest from local and international investors.
The company’s shares climbed as much as 18% during their first trading session on October 20, 2026, rising from the offering price of EGP 24.50 to EGP 28.91. The increase valued its listed Egyptian operations at approximately $745 million.
The IPO involved the sale of 320 million existing shares, representing 20% of MNT Tech Holding for Financial Investments, by its parent company, MNT Investments B.V.
Investor demand significantly exceeded the available shares, with the institutional tranche subscribed 11.2 times and the retail offering oversubscribed 43.6 times.
The transaction attracted more than 41,500 retail orders and participation from over 300 institutional investors across at least 10 countries.
Among the major investors were Commercial International Bank, one of Egypt’s leading private-sector banks, and London-based investment manager Redwheel.
Both institutions participated as cornerstone investors, collectively committing to more than one-third of the initial offering.
Investment banking firm EFG Hermes served as joint global coordinator and joint bookrunner for the transaction.
Founded in 2018, MNT-Halan provides financial services, including microfinance, consumer lending and financing for small businesses. Its operations combine digital technology with a network of more than 1,200 physical distribution points across Egypt.
By June 2026, the company’s Egyptian business reported approximately 1.9 million active customers and a gross loan portfolio worth EGP 46.7 billion.
For 2025, it recorded adjusted revenue of EGP 20.5 billion and net income of EGP 1.98 billion, representing a 44% annual increase in profit.
MNT-Halan’s parent company plans to reinvest up to EGP 4 billion from the offering proceeds into its Egyptian operations to support future expansion.
The successful listing represents a significant development for Egypt’s capital markets, marking the country’s largest IPO by dollar value since 2021.
It also provides a potential benchmark for other Egyptian technology companies considering public listings, although future investor confidence will depend on sustained financial performance and broader economic stability.
