The proposed offering by MNT-Halan includes 320 million shares and is expected to occur this month, pending regulatory approval and market conditions. This move provides investors an opportunity to engage with one of Egypt’s largest tech-driven financial firms and will test the Egyptian stock market’s ability to attract interest in an African fintech.
Founded in Egypt, MNT-Halan has expanded to Turkey, Pakistan, and the UAE, offering lending, payment, and other financial services to individuals and businesses. By the end of June, the company reported approximately 1.9 million active customers and a gross loan portfolio of EGP 46.7 billion. Since its beginnings, MNT has disbursed EGP 178 billion in loans, roughly translating to $6.1 billion based on historical rates.
The Egyptian Exchange approved a temporary listing for MNT Tech Holding for Financial Investments on September 14. While it issued 1.6 billion shares, trading won’t commence until approval is granted from the financial regulator, which requires the company to meet criteria for final listing and offering.
This earlier approval highlighted the IPO’s pathway, with the current announcement describing the offering size as part of the larger 1.6 billion shares. The MNT-Halan group had been valued at $1.4 billion following a recent funding round; however, that valuation does not specifically apply to the Egyptian entity’s IPO, as the final offer price remains to be determined.
