Egyptian fintech company MNT-Halan is preparing to offer a 20% stake in its local business on the Egyptian Exchange, in a move that could mark one of the country’s notable fintech listings if regulatory approvals and market conditions allow the transaction to proceed.
The company said its Egyptian subsidiary, MNT Tech Holding for Financial Investments, plans to offer 320 million existing shares, representing one-fifth of its issued capital. The proposed transaction is expected to combine an institutional placement with a public offering for investors in Egypt.
The Egyptian Exchange granted the company a temporary listing on September 14, but the approval does not mean the IPO has been completed. MNT-Halan still needs to meet additional listing requirements, secure registration with Egypt’s Financial Regulatory Authority and obtain approval to execute the share offering.
The proposed sale is primarily a secondary offering, meaning the shares are currently held by MNT-Halan’s parent company, MNT Investments B.V. Proceeds from the sale would therefore go to the parent rather than directly into the fintech’s operating business.
The group is separately considering injecting fresh capital into the Egyptian company. Following the proposed offering, the parent plans to subscribe for up to EGP4 billion in new shares, subject to the transaction proceeding and other approvals. Up to 24.3 million additional shares could also potentially be offered to senior employees.
No final offer price or valuation has yet been announced, with the eventual price expected to be determined through the bookbuilding process.
MNT-Halan has grown into a major digital lending and payments platform in Egypt, serving both individuals and businesses. The company reported approximately 1.9 million active customers and a gross loan portfolio of EGP46.7 billion as of the end of June.
The wider group has also expanded beyond Egypt, including investments in banking and financial services businesses in markets such as Pakistan and Turkey. However, those operations are separate from the proposed Egyptian Exchange listing.
The planned listing will give investors a closer look at MNT-Halan’s lending business, payment operations and credit exposure as the company moves toward the public markets.
For investors, the key issue will be the final offer terms and the quality of the company’s financial performance rather than the fintech label alone. Loan-book growth, repayment performance, funding costs and exposure to inflation and currency movements will be critical factors in assessing the business.
The proposed transaction remains subject to regulatory approval and market conditions, meaning MNT-Halan has announced plans for a listing, but the IPO has not yet been completed.
