Egypt's MNT-Halan IPO draws 43 times the retail demand
The fintech's shares rose 18% on their first day in Cairo after a listing that raised about $150 million.
Cairo — Egyptian fintech MNT-Halan made a strong start on the Egyptian Exchange on Tuesday, with shares rising 18% on debut, from the offer price of EGP 24.50 to EGP 28.91, Techpoint Africa reports.
The numbers
- Retail investors asked for about 43.6 times the shares on offer; institutions about 11.2 times.
- Total demand reached roughly EGP 126 billion from more than 41,500 orders.
- The sale of 20% of the company raised about EGP 7.84 billion (around $150 million), valuing the Egyptian business at about $745 million.
Most of the shares were sold by the parent, MNT Investments, which has said it will put up to EGP 4 billion back into the Egyptian business.
From ride-hailing to lending
MNT-Halan began in 2018 as a ride-hailing app and now offers microfinance, consumer and small-business loans and payments. It had about 1.9 million active customers in Egypt at the end of June, and its Egyptian net income rose 44% in 2025 to EGP 1.98 billion. Techpoint notes that a first-day jump does not guarantee where the price goes next.
Source: Techpoint Africa, 21 October 2026.
