MNT-Halan has begun trading on the Egyptian Exchange under the ticker HALN.CA, following an IPO that drew strong demand from institutional and retail investors.
The public tranche was oversubscribed 43.6 times and attracted more than 41,500 subscription orders. The private tranche was covered 11.2 times, rising to 19.4 times excluding cornerstone investors, according to the announcement.
The offering comprised 320 million existing ordinary shares sold by MNT Investments B.V., representing 20% of MNT-Halan’s issued share capital before the subscription process closed. Of these, 272 million shares were allocated to institutional and qualified investors, while 48 million were offered to the public.
MNT-Halan said the IPO attracted more than 40 international investment funds from over 10 countries. CIB and UK-based Redwheel also participated as cornerstone investors, according to the announcement.
Founded in 2018, the Egyptian fintech company provides business and consumer loans, prepaid cards, e-wallets, investments and e-commerce services through the Halan app and its physical network.
The listing is a secondary share sale, meaning the proceeds go to the selling shareholder rather than to MNT-Halan through a new share issuance. The company said it will focus on expanding its product ecosystem, strengthening customer engagement and reaching more customers through its technology platform.
Source: Waya
