Egyptian fintech MNT-Halan to list 20% stake on EGX

Egyptian fintech MNT-Halan intends to float a 20 percent stake in its domestic operations on the Egyptian Exchange (EGX), launching one of the country’s biggest initial public offerings in recent years.

The company plans to sell 320 million shares, representing a fifth of its issued share capital, through a private placement to institutional investors and a public offering in Egypt, the company said in a statement.

The final price per share will be determined through a book-building process, and the listing is expected to be completed in October, subject to market conditions and regulatory approvals.

The fintech’s valuation hit $1.4 billion in June following an investment round led by Al Ahly Capital, the investment arm of the National Bank of Egypt.

CEO Mounir Nakhla said that the progress of the Egyptian economy and capital markets over the past two years has strengthened the market’s appeal to foreign investors.

Fintech remains a major draw for venture capital backers in the Mena region. Regional startups raised a combined $375 million across 27 deals in August, an increase of 11 percent year on year, according to figures compiled by Wamda.

MNT-Halan has disbursed EGP178 billion ($6 billion) since its inception in 2018. It has 1.9 million active customers and a gross loan book of EGP47 billion as of the end of June. It purchased a bank in Pakistan and a micro-leasing company in Turkey in 2024

The company generates roughly 59 percent of its income in Egypt, 40 percent in Turkey and the remainder from operations in Pakistan and the UAE, Nakhla told told AGBI in June 2025.

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