MNT-Halan Jumps 18% in First Trading Session, Valued at Around $745 Million

MNT-Halan shares opened trading on the Egyptian Exchange at the offering price of EGP 24.50 per share, before rising by up to 18% to reach EGP 28.91, according to the Launch Base Africa platform.

At this level, the listed Egyptian operations were valued at approximately $745 million, according to the same source.

The offering size stood at EGP 7.84 billion and attracted demand of nearly EGP 126 billion, with the retail tranche covered 43.6 times and the institutional tranche 11.2 times.

The high coverage ratio reflects strong investor demand for the offering, while post-first-session share prices remain subject to trading developments in upcoming sessions as investors await the stock's performance on the Egyptian Exchange.

What do these terms mean?

Initial Public Offering: A process through which a company sells its shares to the public for the first time and lists them on the stock exchange.

Coverage Ratio: The ratio of demand for shares relative to the number of offered shares. A coverage of 43.6 times means demand exceeded supply by that factor.

Market Capitalization: The total value of a company's shares on the stock exchange, calculated by multiplying the share price by the total number of shares.

Institutional Tranche: The portion of an offering allocated to investment funds, banks, and institutional investors, as opposed to the retail tranche.