MNT-Halan opens Cairo IPO at EGP24.50 a share, raising $150M
What's the deal? Egyptian fintech MNT-Halan opened subscriptions on October 7 at EGP24.50 a share, pricing one of Africa's most closely watched listings. The offer covers up to 320 million existing shares — 20% of MNT Tech Holding for Financial Investments — raising EGP7.84 billion (≈$150 million) and implying an EGP39.2 billion value for the listed company.
Why now? The sale moves beyond a proposed 20% stake outlined earlier this month, when the size was known but the price was not. The approved offer now lets buyers weigh the business against a specific valuation rather than a private-market headline.
How it's structured: Up to 48 million shares go to the Egyptian public tranche and up to 272 million to the private tranche. The public offer closes October 15; the private offer closes October 13. The public minimum is 100 shares, or EGP2,450 at the offer price.
Who's backing it? Commercial International BankDealroom has a profile for this one. Try Dealroom → has committed up to EGP2 billion as a cornerstone participant. That gives the deal a substantial institutional backer, though the usual IPO risks remain.
What could go wrong? The share sale is secondary — existing shareholder MNT Investments B.V. is selling stock rather than issuing new shares. That means the EGP7.84 billion will not flow into MNT-Halan's product development or loan book. MNT-Halan combines lending, payments, and other services, so investors must examine credit performance, funding costs, and earnings quality, not just customer growth.
The signal: The listing gives Egypt's technology market a rare, sizeable fintech test in public — letting investors compare a business built on digital distribution and credit against other listed names.
Read more: techbooky.com
Image credit: Håkan Dahlström
