Egyptian fintech company MNT-Halan saw its shares rise 18 per cent on its first day of trading on the Egyptian Exchange on Tuesday, following an initial public offering that attracted strong demand from investors.
The shares opened at the offer price of EGP 24.50, equivalent to about $0.45, before climbing to EGP 28.91, or approximately $0.53, valuing the listed Egyptian business at about $745m, according to Launch Base Africa.
The offering raised approximately EGP 7.84bn, equivalent to about $144.1m, through the sale of 320 million shares, representing a 20 per cent stake in MNT Tech Holding for Financial Investments, the company’s Egyptian operating business.
The transaction was a secondary share sale, meaning the shares were sold by MNT Investments B.V., the parent company, rather than the business issuing new shares to raise fresh capital.
Investor demand significantly exceeded the number of shares available. Institutional investors subscribed for 11.2 times their allocated shares, while individual investors submitted bids for 43.6 times their allocation.
The listing values MNT-Halan’s Egyptian operations at about $745m, below the $1.4bn valuation reported in June 2026 following a funding round that raised more than $70m.
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However, the figures cover different entities: the IPO relates to the Egyptian business, while the earlier valuation covered the wider group, which operates in other markets.
Founded in 2018 by Mounir Nakhla, MNT-Halan provides financial services to consumers and small businesses, including microfinance, consumer loans, small-business financing and digital payments. The company has expanded beyond Egypt into Pakistan and Turkey.
Its Egyptian operation reported 1.9 million active customers and a gross loan book of EGP 46.7bn, approximately $858.3m, at the end of June 2026.
In 2025, the business recorded adjusted revenue of EGP 20.5bn, equivalent to about $376.8m, and net income of EGP 1.98bn, or approximately $36.4m.
The listing gives public-market investors access to the Egyptian business while allowing the wider group to retain its international operations under its parent company.
The debut also comes as Egypt seeks to deepen its stock market, attract more domestic and foreign investors, and increase the number of publicly listed companies through reforms and a government privatisation programme.
MNT-Halan’s performance on its first trading day provides an indication of investor appetite for established fintech businesses in a region where technology companies have often depended on private funding to finance expansion.
About the Author
Cecilia Attah is a tech analyst with a degree from Benue State University. She covers tech news and startups at TechRegard with a focus on how technology is transforming Africa and shaping the global landscape.
