MNT-Halan jumps 6.6% in its trading debut, approaching 42 billion EGP
MNT-Halan stock closed its first session on the Egyptian Exchange up 6.6% at 26.12 EGP, bringing the company's valuation to about 42 billion EGP following Egypt's largest IPO since 2021.
Shares of Egyptian payments and lending company MNT-Halan closed their first trading session on the Egyptian Exchange on Tuesday up about 6.6%, after the offering was priced at 24.50 EGP per share, bringing the closing price to about 26.12 EGP. That raised the company's market capitalization to about 42 billion EGP, equivalent to approximately $770 million.
EFG Hermes, the advisor on the offering, said the listing is the largest in Egypt in dollar terms since 2021. A total of 320 million shares representing 20% of the Egyptian company were sold in a secondary offering conducted by MNT Investments, with offering proceeds reaching about 7.84 billion EGP.
Mounir Nakhla, CEO of the company, said after ringing the opening bell that demand for the offering reflects the strength of market and company fundamentals. He added that Egypt is a market of about 115 million people, growing rapidly with increasing technology adoption and a need for digital financial services. The listing came amid escalating regional instability and rising global energy prices.
The Egyptian company recorded revenues of 19.8 billion EGP in 2025, compared to 13.2 billion EGP in the previous year. According to the offering statement, MNT-Halan has disbursed about 178 billion EGP in loans since its inception, equivalent to $6.1 billion at historical average exchange rates, and has about 1.9 million active customers and a total loan portfolio of about 46.7 billion EGP as of the end of last June. The company also acquired a bank in Pakistan and a small financial leasing company in Turkey.
What do these terms mean?
Initial Public Offering (IPO): The first sale of a company's stock on the stock exchange for investors to buy, transforming it from a privately held company into a listed company.
Secondary Offering: The sale of existing shares owned by current shareholders to new investors, where proceeds do not enter the company's treasury.
Market Capitalization: The value of a company on the stock exchange, calculated by multiplying the share price by the number of traded shares.
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