MNT-Halan starts EGX trading after IPO draws over 41,500 retail orders

MNT Tech Holding for Financial Investments SAE, known as MNT-Halan, has begun trading on the Egyptian Exchange under the ticker HALN.CA. The company marked the first session with a bell-ringing ceremony attended by senior government officials, financial regulators, exchange leadership, its own board and executives, and representatives of the banks, asset managers and advisers who worked on the offering.

What was sold

The IPO consisted of 320 million existing ordinary shares sold by shareholder MNT Investments B.V., equal to 20% of MNT-Halan's issued share capital before the subscription process closed. Of that total, 272 million shares went to institutional and other private-tranche investors, and 48 million to retail investors.

Demand ran well past the supply. The private tranche was 11.2 times oversubscribed, a multiple that rises to 19.4 times once cornerstone investors are excluded. The public tranche was covered 43.6 times and drew more than 41,500 subscription orders.

The business behind the listing

MNT-Halan was founded in 2018 by Mounir Nakhla, with roots going back to 2009. Through subsidiaries that include Halan and Tasaheel, it offers lending, payments, investments and e-commerce. The group says it has served about 7.9 million customers since inception, with roughly 1.9 million active customers a year, and has disbursed more than EGP 178 billion in financing as of 30 June 2026.

Omar Radwan, chairman of the Egyptian Exchange, said the company had shown how an ambitious venture can grow into an institution able to use technology to serve millions of people. A listing, he added, does more than raise capital and diversify funding at low cost: it also entrenches governance and transparency, and protects shareholder wealth across generations.

Nakhla said the level of demand reflected confidence in Egypt, in the financial ecosystem the company has built and in its growth path. "As we enter this next phase, we remain focused on broadening our product ecosystem, deepening customer engagement and leveraging our proprietary technology to reach more customers," he said. He thanked the government, the Central Bank of Egypt, the Financial Regulatory Authority, the exchange, banking partners and asset managers, along with the international investors, family offices and individuals who subscribed.

As we enter this next phase, we remain focused on broadening our product ecosystem, deepening customer engagement and leveraging our proprietary technology to reach more customers,

Citigroup Global Markets Limited and EFG Hermes Promoting and Underwriting S.A.E. were joint global coordinators and joint bookrunners. Gibson, Dunn & Crutcher LLP served as U.S. and English counsel and Matouk Bassiouny & Hennawy as Egyptian counsel to MNT-Halan and the selling shareholder. White & Case LLP acted as U.S. and English counsel, with MHR & Partners in association with White & Case LLP as Egyptian counsel, to the coordinators and bookrunners.