MNT-Halan: Retail Demand Covers IPO 43.6 Times, Trading Set for October 20

The retail public offering for Egyptian fintech company MNT-Halan was 43.6 times oversubscribed on the sixth and final day of subscription, after orders reached nearly 2.093 billion shares compared to just 48 million shares allocated for retail investors, according to offering data.

This coverage means that the pro-rata allocation ratio for retail investors will be close to 2.29% of requested shares, as demand significantly exceeded supply. The share price was set at 24.50 EGP, with a minimum subscription of 100 shares.

The retail tranche represents 15% of the total offering and 3% of the company's capital. The entire offering comprises 320 million shares representing 20% of the company valued at approximately 7.84 billion EGP, consisting entirely of a secondary sale of existing shares.

Company founder and CEO Mounir Nakhla explained that trading on the Egyptian Exchange will begin on October 20 under the ticker HALN. The private institutional offering had closed 11.2 times oversubscribed at the same price, reflecting strong demand for the offering.

What Do These Terms Mean?

Initial Public Offering (IPO): A process in which a company offers its shares to the public for the first time, transitioning from a private company to a publicly listed one in the financial market.

Secondary Sale: An offering of existing shares sold by current owners rather than issuing new shares, so the proceeds of the sale do not go to the company.

Pro-rata Allocation: A method of distributing shares when demand exceeds supply, where each buyer receives a share proportional to their request.

Oversubscription Ratio: A metric comparing order volume to available shares, where the phrase "43.6 times oversubscribed" means orders reached approximately 43.6 times the supply.