MNT-Halan is preparing to list 20% of its shares on the Egyptian Exchange (EGX). This puts one of Egypt’s leading fintech companies on track for a major market debut this month. Moreover, Egypt’s first fintech unicorn plans to list 320 million shares.

Why You Should Care

The offering will give investors access to a fintech business that has built a significant lending and payments operation in Egypt. 

The listing also comes as Egypt’s capital markets seek to attract greater investor participation. For MNT-Halan, moving to the public market marks a new phase for a company that has already reached unicorn status and expanded beyond Egypt.

The Details

MNT-Halan plans to offer 320 million ordinary shares, representing 20% of its issued share capital. The offering will combine a private placement for institutional investors with a public offering in Egypt. The company expects the transaction to be completed this month, subject to market conditions and the required regulatory approvals. Additionally, around 24.3 million shares will also be sold to senior employees, pending regulatory approval.

Founded in 2018, MNT-Halan is a fintech unicorn aiming to improve lives by transforming access to financial services through technology. It provides business and consumer loans, prepaid cards, e-wallets, investments, and e-commerce services. This is through the Halan app and a nationwide physical presence

The Ripple

MNT-Halan’s planned listing adds to recent activity in Egypt’s equity market and could provide another test of investor appetite for large private sector companies.

The offering follows the December 2024 listing of United Bank, when Egypt’s central bank sold a 30% stake in the state-owned lender.

In a statement to Reuters, MNT-Halan CEO Mounir Nakhla said progress in Egypt’s economy and capital markets over the past two years has strengthened the market’s appeal to foreign investors.

What to Watch

The immediate focus will be on the completion of the offering and MNT-Halan’s debut on the Egyptian Exchange, expected this month subject to market conditions and regulatory approvals.

The listing will mark a new phase for the fintech as it moves into Egypt’s public markets, while its growing customer base, lending activity and expansion across emerging markets will shape the company’s next stage of growth.