Arab Finance: The retail tranche of MNT-Halan’s initial public offering (IPO) attracted orders for approximately 2.093 billion shares on its sixth and final subscription day, with demand reaching 43.6 times the 48 million shares allocated to retail investors.
Subscription requests totaled nearly 2.093 billion shares, implying a proportional allocation ratio of approximately 2.29% based on the shares available. Demand substantially exceeded the retail tranche, leaving investors competing for a limited allocation.
Retail shares are priced at EGP 24.50 each, with a minimum subscription of 100 shares. The tranche accounts for 15% of the total offering and 3% of the company’s share capital.
The overall offering comprises 320 million shares, representing a 20% stake and valued at approximately EGP 7.84 billion. The transaction consists entirely of a secondary sale of existing shares.
Trading on the Egyptian Exchange (EGX) is expected to begin on October 20 under the ticker HALN, according to Mounir Nakhla, the company’s founder and CEO.
MNT-Halan provides financial technology services, including digital financing solutions. The offering forms part of its listing process ahead of making its shares available for trading on the EGX.
It is worth mentioning that MNT-Halan’s private placement closed 11.2 times oversubscribed at an offer price of EGP 24.50 per share.
