MNT-Halan, Egypt’s fintech unicorn founded by Egyptian entrepreneur Mounir Nakhla, has begun trading on the Egyptian Exchange (EGX) after raising EGP7.84 billion ($150 million) in an initial public offering that attracted strong demand from institutional and retail investors.

The shares, priced at EGP24.5 each, trade under the ticker symbol HALN.CA. The offering represents Egypt’s largest IPO since 2021 in U.S. dollar terms and the biggest listing by a privately owned company in a decade.

According to a company press release, the IPO involved the sale of 320 million ordinary shares by MNT Investments B.V., representing 20% of MNT-Halan’s issued share capital.

MNT-Halan IPO attracts strong investor demand

The offering was divided into a private tranche for qualified investors and a public tranche for Egyptian retail investors. Of the shares offered, 272 million were allocated to the private tranche, while 48 million went to the public tranche.

The private tranche was oversubscribed 11.2 times, rising to 19.4 times when cornerstone investors were excluded. The public tranche was oversubscribed 43.6 times, attracting more than 41,500 subscription orders and roughly EGP126 billion in demand.

The private placement drew orders from more than 300 investors across over 10 countries, highlighting international interest in Egypt’s fintech sector.

Following the offering, the selling shareholder will subscribe to additional shares through a closed subscription at the offer price, for a total amount of up to EGP4 billion. The proceeds will provide MNT-Halan with additional capital to finance its next phase of expansion.

MNT-Halan targets further fintech expansion

Mounir Nakhla, founder, chief executive officer and managing director of MNT-Halan, said the company would focus on broadening its product ecosystem, deepening customer engagement and using its proprietary technology to reach more customers and sustain growth.

Omar Radwan, chairman of the Egyptian Exchange, described the listing as evidence of how technology-driven businesses can develop into major institutions serving millions of people. He added that capital markets offer companies opportunities to improve liquidity, finance expansion and strengthen corporate governance.

EFG Hermes leads landmark Egyptian IPO

EFG Hermes, a subsidiary of EFG Holding, and Citigroup Global Markets Limited served as joint global coordinators and joint bookrunners for the offering.

EFG Hermes said the transaction gives investors exposure to one of Egypt’s largest fintech platforms, supported by its nationwide presence, financial growth, and technology-enabled distribution model.

Through subsidiaries including Halan and Tasaheel, MNT-Halan has served approximately 7.9 million customers since inception, with around 1.9 million active customers annually. The company had disbursed more than EGP178 billion in financing as of June 30, 2026.

The listing marks a significant milestone for Egypt’s capital markets as MNT-Halan seeks to expand its lending, payments, and digital financial services across the country and beyond.