Egypt's MNT-Halan Plans $1B+ Stock Market Debut

MNT-Halan, recognized as Egypt's premier fintech unicorn with a valuation exceeding $1 billion, has announced its intention to list 20% of its shares on the Egyptian stock exchange. This offering represents one of the most substantial listings in recent years.

The company, founded in 2018, has demonstrated significant financial activity, disbursing around 178 billion Egyptian pounds in loans. As of the end of June, MNT-Halan held a gross loan book of approximately 46.7 billion Egyptian pounds and served about 1.9 million active customers.

Beyond its domestic operations, MNT-Halan has strategically expanded its footprint by acquiring a bank in Pakistan and a micro-leasing company in Turkey. These acquisitions signal a broader international growth strategy for the fintech firm.

The proposed initial public offering includes 320 million ordinary shares, comprising both a private placement for institutional investors and a public offering within Egypt. Additionally, approximately 24.3 million shares are slated for sale to senior employees, pending regulatory approval.

CEO Mounir Nakhla highlighted the positive economic climate and capital market advancements in Egypt over the past two years, noting their role in attracting foreign investment. This move follows the December 2024 listing of United Bank, where Egypt's central bank divested a 30% stake in the state-owned lender.