MNT-Halan plans 20% IPO on Egyptian stock exchange

by@Reuters

Summary

MNT-Halan, Egypt's first fintech "unicorn," announced its plans to sell a 20% stake in an initial public offering (IPO) on the Egyptian stock exchange, marking one of the largest such listings in years. Founded in 2018, MNT-Halan has disbursed approximately 178 billion Egyptian pounds in loans and boasts around 1.9 million active customers. The IPO, which includes 320 million shares available for both institutional investors and the public, is expected to be finalized this month, contingent upon market conditions and necessary regulatory approvals. CEO Mounir Nakhla noted that recent progress in Egypt's economy and capital markets has enhanced the market's attractiveness to foreign investors, following a similar listing by United Bank in December 2024.

Analysis

MNT-Halan: Egyptian fintech lending and payments company founded in 2018. It is considered Egypt's first fintech unicorn. The company plans to sell 20% of its shares in an initial public offering on the Egyptian stock exchange, one of the largest such listings in years. Mounir Nakhla: Chief Executive Officer of MNT-Halan. He stated that continued progress in Egypt's economy and capital markets over the past two years has strengthened the market's appeal to foreign investors in connection with the company's IPO. Market Appeal: Progress in Egypt's economy and capital markets has strengthened the market's appeal to foreign investors. Regulatory Path: The IPO is subject to market conditions and requisite regulatory approvals for completion this month.

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