Egyptian fintech MNT-Halan plans to list a 20% stake in its domestic operations on the Egyptian Exchange (EGX), in what could become one of the country’s largest IPOs in recent years.
The company said it will offer 320 million shares through a private placement for institutional investors and a public offering in Egypt. The final share price will be set through book-building, with the listing targeted for October, subject to market conditions and regulatory approvals.
MNT-Halan’s valuation reached $1.4 billion in June after an investment round led by Al Ahly Capital, the investment arm of the National Bank of Egypt. CEO Mounir Nakhla said improving economic conditions and capital markets had increased Egypt’s appeal to foreign investors.
Founded in 2018, MNT-Halan has disbursed EGP178 billion ($6 billion) and had 1.9 million active customers and a gross loan book of EGP47 billion at the end of June. The company also acquired a bank in Pakistan and a micro-leasing company in Turkey in 2024.
The fintech generates about 59% of its income in Egypt and 40% in Turkey, with the remainder coming from Pakistan and the UAE, according to Nakhla.
Source: AGBI
