Egyptian FinTech company "MNT-Halan" (MNT-Halan) has officially commenced trading its shares on the Egyptian Exchange under the ticker symbol (HALN.CA), following the completion of an initial public offering (IPO) that garnered widespread attention and strong levels of demand from both institutional and retail investors.
Offering Details and Share Allocation
The offering included the sale of 320 million existing ordinary shares, representing 20% of the company's issued share capital, sold by the existing shareholder "MNT Investments B.V." The offered shares were divided into two main tranches:
- Private Tranche (Institutional): Included 272 million shares and witnessed a subscription coverage of 11.2 times, which rose to 19.4 times when excluding cornerstone investors.
- Public Tranche (Retail): Included 48 million shares and witnessed widespread turnout with a subscription coverage of 43.6 times, attracting over 41,500 subscription orders.
Growth Journey of the Tech and Financial Ecosystem
Founded in 2018 with roots dating back to 2009 under the leadership of Mounir Nakhla, the company evolved into an integrated technology-led financial services platform, offering solutions including financing, payments, investment, and e-commerce through its subsidiaries such as "Halan" and "Tasaheel". As of June 30, 2026, the group has provided services to nearly 7.9 million customers, with around 1.9 million active annual customers, and total disbursed financing exceeding 178 billion Egyptian pounds.
What This Offering Represents for the Company and the Market
Becoming a publicly listed company on the Egyptian Exchange marks a pivotal milestone in "MNT-Halan's" journey, granting it the ability to expand the scope of its financial services ecosystem, enhance customer engagement levels, and reach broader segments powered by its technology platform. The Chairman of the Egyptian Exchange, Omar Radwan, noted that the offering embodies a successful model of technology projects' ability to transform into leading institutional entities that promote sound governance and ensure long-term sustainability.
Offering Advisors and Participating Entities
The process was led by global and local financial institutions; Citigroup Global Markets Limited and EFG Hermes Promotion and Underwriting acted as joint global coordinators and joint bookrunners. Participating legal entities included the law firms of Gibson, Dunn & Crutcher and Matouk Bassiouny & Hennawy as legal advisors to the company, alongside White & Case LLP and its partners as legal advisors to the global coordinators.