“MNT-Halan” Covers Its Offering 11.2 Times and Starts Trading on October 20
MNT-Halan closed its subscription with the largest order book seen on the Egyptian Exchange in years, following an institutional oversubscription of 11.2 times, with trading scheduled to begin on October 20 at a price of EGP 24.50.
Egyptian fintech company “MNT-Halan” announced that its public offering closed with the largest order book seen on the Egyptian Exchange in years, as the selling shareholder “MNT Investments B.V.” sold 320 million existing shares at a price of EGP 24.50 per share.
Demand was widespread, as the institutional tranche covered the offering 11.2 times, a ratio that rises to 19.4 times after excluding cornerstone institutional investors, with over 300 investors from more than 10 countries submitting buy orders, while Commercial International Bank and “Redwheel” participated as institutional investors.
The price stabilization fund, backed by nearly EGP 1.18 billion from the public tranche proceeds, is preparing to place a buy order at the offering price during the first 30 trading days, which aims to support the stock upon the expected start of trading on October 20.
The offering is entirely limited to the sale of existing shares covering 20% of the company's Egyptian operations, valued at approximately EGP 39.2 billion ($750 million) at the offering price, representing a discount of nearly 5.5% from the fair value estimated by “BDO KIZ” at EGP 25.92 per share. The company has 1.9 million active clients and a total loan portfolio reaching EGP 46.7 billion as of June 30, 2026.
What do these terms mean?
Secondary Offering: The sale of existing shares from current shareholders instead of issuing new shares, meaning the sale proceeds go to the selling shareholder rather than the company.
Order Book: A record aggregating buy orders from investors during the offering, and its size is an indicator of the demand for the stock.
Institutional Tranche: The portion allocated to large investors and investment funds, as opposed to the public tranche allocated to retail individuals.
Stabilization Fund: A fund used to buy the stock using offering proceeds when needed, aimed at preventing a sharp decline after trading begins.
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