By Hamza Faisal

MNT Tech Holding for Financial Investments, the Egyptian arm of fintech group MNT-Halan, has kicked off one of the largest initial public offerings Egypt has seen in years, announcing plans to list on the Egyptian Exchange (EGX) this month with its parent selling a 20% stake.

Parent company MNT Investments B.V. will sell 320 million existing shares in MNT Tech Holding, equivalent to 20% of the company, according to the intention-to-float notice. The fully secondary offering is open to institutional and retail investors in Egypt and selected international markets, with trading expected before the end of October, pending regulatory approvals.

What the IPO covers

The base offering could grow: the parent has the option to increase the sale to 400 million shares, or 25% of existing share capital. No price range has been announced yet — the final price will be set through a bookbuilding process once the offering structure and regulatory approvals from the Financial Regulatory Authority and the Egyptian Exchange are finalized.

Because the offer is fully secondary, proceeds from the share sale go to the selling parent rather than the operating company. Separately, MNT Investments B.V. plans to subscribe to a capital increase of up to EGP 4 billion at the offer price, injecting fresh money into the Egyptian business. The parent also plans to sell about 24.3 million shares to selected employees before trading begins.

The listing itself has been in the works for weeks: the EGX Securities Listing Committee granted preliminary approval on September 14, admitting 1.6 billion shares under the ticker HALN, with issued capital of EGP 160 million at a nominal value of EGP 0.10 per share. That approval reserved the company's place on the exchange with a six-month window to complete the offering.

Egypt's largest fintech listing in years

MNT-Halan is one of Egypt's largest non-bank lenders and has grown from a local lending platform into a broader payments and financial-services business. It says it serves about 1.9 million active customers, with a gross loan book of approximately EGP 46.7 billion at the end of June.

The company has also expanded beyond Egypt, acquiring a bank in Pakistan and a micro-leasing business in Turkey — those operations stay outside the listed entity, while the wider parent group remains private. The wider group was valued at $1.4 billion in a private funding round in June, though bankers have pitched the Egyptian arm alone at up to $1 billion during roadshows that began the same month.

Why the listing matters for the region

The IPO is the only one currently live anywhere in the region. Across the Gulf, listings have stalled: Dubai Holding, Emirates Global Aluminium and Binghatti have delayed or shelved offerings this year, Al Habtoor dropped its Dubai plans entirely, and Airtel Money is taking its IPO to London.

The region closed the first quarter of 2026 with just four IPOs raising a combined $296.6 million — the weakest first quarter since 2018.

Bankers are wagering the MNT-Halan listing can do what no recent Egyptian offering has managed: pull foreign institutional money back into the market. Interest across in-person and virtual roadshows in the UK, the Gulf, the US and beyond has reportedly been high. A strong foreign showing would make the next wave of Egyptian listings — including Banque du Caire and Misr Life — a much easier sell.