MNT-Halan Files to Float 20% Stake on Egyptian Exchange
The Cairo fintech will sell 320 million shares through a private placement and a public offering, with trading expected to start in October.
Tariq Benali Tariq Benali covers business and corporate news across the UAE and MENA for Anecdoted, tracking the deals, leadership moves and regulatory shifts behind the region's companies. tariq@anecdoted.com
MNT-Halan intends to float on the Egyptian Exchange, offering 320 million shares equal to 20% of its issued share capital. The Cairo fintech set out the plan in an intention-to-float announcement dated Sept. 30.
The shares are being sold by MNT Investments B.V., the selling shareholder, through a private placement to institutional investors and a public offering in Egypt. The exchange's listing committee granted temporary listing approval on Sept. 14.
MNT-Halan's issued capital stands at $3 million (EGP 160 million), divided into 1.6 billion shares carrying a nominal value of $0.0019 (EGP 0.10) each. Book-building will set the offer price.
After the offering, a closed subscription will let the selling shareholder subscribe for additional shares worth as much as $76 million (EGP 4 billion) at the offer price. Before trading begins, that shareholder also intends to sell 24.3 million shares to certain senior management employees, subject to regulatory approval. Trading is expected to start in October, depending on market conditions and approvals.
Operations
As of June 30, the group reported about 1.9 million active customers and more than 1,200 distribution points spread across 25 Egyptian governorates. Roughly 1.4 million Halan cards have been issued since the product launched in October 2023.
Loans disbursed since inception total approximately $6.1 billion (EGP 178 billion). The gross loan book stood at about $947 million (EGP 46.7 billion) at the end of June, while payments volume surpassed $5.1 billion (EGP 207 billion). Outstanding client investments across its investment products reached roughly $84 million (EGP 4.1 billion).
Revenue and profit
Total adjusted revenue was about $389.5 million (EGP 20.5 billion) in 2025, compared with $264.1 million (EGP 13.9 billion) in 2024 and $188.1 million (EGP 9.9 billion) in 2023. Adjusted revenue has slightly more than doubled since 2023. Adjusted gross profit came to $231.8 million (EGP 12.2 billion) last year, with net income of $37.6 million (EGP 1.98 billion).
The company put the compound annual growth rate for adjusted revenue across 2023 to 2025 at about 44%, and for its gross loan book at about 41%. Adjusted return on average equity rose to 32.2% in 2025 from 28.1% a year earlier.
Market position
MNT-Halan estimated its share of Egypt's non-bank microfinance market at 24.3% by loan-book value at the end of 2025, and its share of the non-bank consumer-finance market at 14% by annual disbursements. It also describes itself as the largest non-bank provider of SME finance by loan-book value.
Founder and CEO Mounir Nakhla said the listing would support the company's next phase of growth, including a wider product ecosystem, deeper customer engagement and higher disbursement volumes, alongside the use of technology and AI capabilities to improve operating efficiency.
A 2025 ranking of the region's 50 leading fintech companies placed MNT-Halan seventh.
