MNT-Halan has opened subscription for the Cairo Stock Exchange itemizing of MNT Tech Holding, its Egyptian working enterprise, at EGP 24.5 per share. The base providing covers 320 million present shares, representing a 20 per cent stake and concentrating on gross proceeds of roughly $150 million at an organization valuation of round $750 million. The providing contains an choice to upsize to 25 per cent of the corporate if demand justifies it. Trading is scheduled to start on 20 October.
More than a 3rd of the bottom providing has already been lined by way of anchor commitments from Commercial International Bank, Egypt’s largest listed personal financial institution, and London-based asset supervisor Redwheel. The anchor participation is a fabric sign: it reduces placement threat and offers retail and institutional subscribers a reference level on pricing confidence. The challenge value is about at a reduction to comparable listed friends, a deliberate selection to depart secondary-market upside for brand spanking new traders.
Mounir Nakhla, founder and chief government, mentioned the identical transaction would have raised solely $30 million to $40 million in early 2024, a interval when Egypt’s foreign money disaster and foreign-exchange controls had successfully frozen inbound portfolio capital. The Egyptian pound has since been floated and an IMF programme is in place, adjustments which have materially improved the chance profile for international traders contemplating the market.
What the deal checks
Beyond MNT-Halan’s personal fortunes, the itemizing capabilities as a reside stress check for Egypt’s capital markets infrastructure and their skill to draw worldwide institutional cash. Egypt has not produced a fintech IPO of this dimension in 5 years, and the Gulf’s personal IPO pipeline has decelerated in 2026 following a run of huge state-linked listings in Saudi Arabia and the UAE. A clear execution and energetic secondary buying and selling would encourage different late-stage Egyptian and MENA fintechs which have delayed exit plans to revisit the public-markets route.
MNT-Halan’s enterprise mannequin spans client lending, buy-now-pay-later, digital funds and e-commerce logistics, serving underbanked Egyptians who stay largely exterior the formal banking system. The firm traces its origins to Halan, a 2017 ride-hailing app for tuk-tuks and motorbikes in low-income city neighbourhoods, which subsequently merged with Mounir Nakhla’s microfinance operation to construct a broader monetary providers stack. That historical past of serving thin-file debtors by way of non-traditional channels is central to its positioning as a financial-inclusion play for institutional traders with emerging-markets or impression mandates.
Regional context
The itemizing arrives alongside a cluster of different MENA fintech exercise. NEOPAY has agreed to amass a 65 per cent controlling stake in midday funds, extending consolidation within the UAE buying and funds infrastructure house. Saudi-based SME financing platform erad closed a $22 million Series A led by MEVP, persevering with a run of mid-sized lending rounds within the Kingdom. On the institutional rails aspect, Mashreq Bank accomplished a reside tokenised deposit transaction with Citi on Swift‘s blockchain ledger, and Commercial Bank of Dubai grew to become the primary financial institution exterior Europe to affix the Commercial Bank Money Token community, an indication that Gulf lenders are transferring from pilot to manufacturing on wholesale digital cash infrastructure.
For MNT-Halan particularly, the trail from IPO to a sturdy public-market premium will rely on post-listing disclosures round credit score high quality, non-performing mortgage ratios and the unit economics of its lending e-book. International traders aware of Egyptian client credit score will need granular knowledge earlier than increasing positions in secondary buying and selling.
AI stage 1 of 5: written by Darlyn Ho; AI helped with tone, construction or wording; edited and signed off by Mark Walker, Editorial Director. What the levels mean
