Arab Finance: MNT-Halan celebrated the commencement of trading in its shares on the Egyptian Exchange (EGX) under the ticker symbol HALN.CA after attracting strong investor demand for its initial public offering (IPO), according to an emailed press release.
The IPO attracted strong demand from both institutional and retail investors. The private tranche was oversubscribed to 11.2x and 19.4x, excluding cornerstone investors. Meanwhile, the public tranche was oversubscribed to 43.6x, attracting more than 41,500 subscription orders.
It involved a secondary offering of 320 million ordinary shares by MNT Investments B.V., accounting for 20% of MNT-Halan’s issued share capital. Of these, 272 million shares were allocated to the Private Tranche and 48 million to the Public Tranche.
Omar Radwan, Chairman of the EGX, commented: “MNT-Halan has demonstrated an inspiring model of how ambitious ideas and ventures can evolve into leading institutional entities capable of leveraging technology and innovation to serve millions of citizens.”
“Today, through its entry into the capital market, the company reaffirms that the stock exchange offers the most efficient and equitable avenue for providing liquidity and financing future expansion through a diverse range of instruments, while strengthening its brand positioning and enhancing its corporate governance.”
Mounir Nakhla, Founder, CEO, and Managing Director of MNT-Halan, said: “As we enter this next phase, we remain focused on broadening our product ecosystem, deepening customer engagement and leveraging our proprietary technology to reach more customers and drive sustainable growth.”
Citigroup Global Markets Limited and EFG Hermes Promoting and Underwriting S.A.E. served as joint global coordinators and joint bookrunners for the offering. Gibson, Dunn & Crutcher LLP provided US and English legal counsel to MNT-Halan and the selling shareholder, alongside Matouk Bassiouny & Hennawy as Egyptian legal counsel.
Meanwhile, White & Case LLP acted as US and English legal counsel to the joint global coordinators and joint bookrunners, with MHR & Partners, in association with White & Case LLP, serving as their Egyptian legal counsel.
Through its subsidiaries, including Halan and Tasaheel, MNT-Halan has served around 7.9 million customers since its inception, with around 1.9 million active customers annually, and disbursed more than EGP 178 billion in financing as of June 30, 2026.
