MNT-Halan Poised for IPO in Egypt

Egyptian fintech unicorn MNT-Halan has received approval from the Egyptian Exchange (EGX) to temporarily list 1.6 billion shares of its holding company, signaling a major step toward becoming one of Egypt’s largest startup public offerings.

The temporary listing allows MNT-Halan six months to finalize the offering and meet remaining requirements before potentially trading under the ticker “HALN.CA.” If successful, this could value the fintech’s Egyptian business at $900 million to $1 billion.

Funding and Scale

MNT-Halan has raised over $550 million in total funding, including a 2023 round that valued it at $1.4 billion. The company has disbursed more than $15.5 billion in loans and serves 8 million users.

Significance of the IPO

This public offering would be one of the most watched startup listings on the EGX in years, representing a notable exit for investors like Chimera Investments, Lorax Capital, and development finance institutions (DFIs) such as the International Finance Corporation (IFC).

The listing comes amid broader discussions about liquidity options for African tech startups, offering a potential model for others seeking public market access.

Regulatory Context

Under Egyptian regulations, investors who own at least 10% when MNT-Halan lists must maintain 51% of their stake for at least two financial years.