MNT-Halan's Egypt IPO open to the public at 24.5 pounds a share until 15 October
The fintech group is selling 20% of its Egyptian arm at EGP 24.5 a share, with the public tranche open until 15 October and trading expected from 20 October.
MNT Tech Holding for Financial Investments, the Egyptian arm of fintech group MNT-Halan, opened its share sale on 7 October at EGP 24.5 a share. The base offer is 320 million existing shares, about 20% of the company, worth around EGP 7.84 billion, which values the company at roughly EGP 39.2 billion.
The public tranche for individual investors is 48 million shares, with orders starting at 100 shares, and closes on 15 October. The private placement for institutions and wealthy individuals, up to 272 million shares, closes on 13 October, with minimum orders of EGP 10 million for institutions and EGP 5 million for individuals.
CIB has agreed to buy up to EGP 2 billion of shares as a cornerstone investor. Founder and chief executive Mounir Nakhla expects trading to start on the Egyptian Exchange on 20 October under the ticker HALN.CA. The offer is reported as Egypt's largest IPO since 2021.
