Egypt’s First Fintech Unicorn MNT-Halan Plans 20% Stake Sale in IPO

MNT-Halan is preparing to sell a 20% stake in its local business through an initial public offering on the Egyptian Exchange, with the transaction targeted for October subject to regulatory approval and market conditions. The offering will comprise 320 million ordinary shares through a public offering and private placement for institutional investors. Reuters

MNT-Halan, which became Egypt’s first fintech company to reach a valuation above $1 billion, reported around 1.9 million active customers and a gross loan book of LE 46.7 billion at the end of June. The company has disbursed approximately LE 178 billion in loans since launch. An additional 24.3 million shares are also expected to be reserved for senior employees, pending approval. Reuters

The Egyptian entity received a temporary listing on the EGX in September, although its shares have not yet begun trading. MNT-Halan has also expanded beyond Egypt through acquisitions in Pakistan and Turkey, while its planned listing would mark one of the country’s larger IPOs in recent years.