Egyptian fintech MNT-Halan is moving closer to one of Africa’s most closely watched technology listings after securing a commitment of up to EGP 2 billion from Commercial International Bank (CIB) ahead of the opening of its public and private share offerings.
The fintech will offer 320 million shares, representing 20% of the share capital of its Egyptian business, MNT Tech Holding for Financial Investments, at an offer price of EGP 24.50 per share.
Subscriptions for both the public and private offerings are scheduled to open on October 7, 2026, following approval of the offering prospectus by Egypt’s Financial Regulatory Authority.
CIB’s investment gives MNT-Halan a significant institutional backer before investors begin subscribing for shares.
Under a cornerstone investment agreement, the Egyptian bank has committed to purchase up to EGP 2 billion worth of shares through the international offering, subject to the terms of the transaction.
MNT-Halan to Offer 20% of Egyptian Business
MNT-Halan is offering up to 320 million shares out of the Egyptian company’s total 1.6 billion shares.
At EGP 24.50 per share, the base offering is worth approximately EGP 7.84 billion.
The offer price compares with an independently determined fair value of EGP 25.92 per share.
The IPO has been divided into public and private tranches.
The public offering will consist of up to 48 million shares, representing 15% of the total shares being offered and 3% of the company’s overall share capital.
The remaining 272 million shares will be offered privately to eligible investors, representing 85% of the offering and 17% of the company.
An additional 80 million shares may also be offered depending on demand.
Public subscriptions are scheduled to run from October 7 to October 15, while the private offering is expected to close on October 13.
The public offer requires a minimum subscription of 100 shares, equivalent to EGP 2,450 at the offer price.
CIB Commits Up to EGP 2 Billion
CIB’s participation provides the IPO with a major cornerstone investor from Egypt’s banking sector.
The bank entered into the investment agreement with MNT Tech Holding and its principal shareholder, MNT Investments B.V., committing to purchase shares worth up to EGP 2 billion.
CIB Deputy CEO and Executive Board Member Amr El Ganainy said the investment reflects the bank’s support for Egypt’s non-bank financial services sector and technology-enabled financial products.
MNT-Halan founder and CEO Mounir Nakhla also described CIB as a longstanding partner of the company, noting that the bank has worked with the business for more than 15 years.
The relationship between the two companies has previously extended beyond equity.
CIB has also participated in financing MNT-Halan’s lending operations, making its move into the fintech’s shareholder base particularly notable.
The IPO Is for MNT-Halan’s Egyptian Business
An important distinction for investors is that the listing does not cover the entire international MNT-Halan group.
The company being listed is MNT Tech Holding for Financial Investments, the Egyptian operation of the wider MNT-Halan business.
The shares are expected to trade on the Egyptian Exchange under the ticker HALN once trading begins.
MNT-Halan has expanded internationally in recent years, including operations outside Egypt, but those businesses are not directly part of the company being floated through this offering.
The structure also means the IPO itself is primarily a secondary share sale.
The 320 million shares are being sold by the principal shareholder, MNT Investments B.V., rather than newly issued by the listed company.
MNT-Halan is separately expected to undertake a capital increase through which fresh capital can enter the Egyptian business.
One of Africa’s Biggest Fintechs Moves Toward Public Markets
MNT-Halan has grown into one of the largest technology-enabled financial services companies to emerge from Africa.
The company combines its Halan digital platform with an extensive physical distribution network, providing services spanning lending, payments, investments and other financial products.
As of June 2026, the wider MNT-Halan group had served approximately 7.9 million customers and originated cumulative financing disbursements of around EGP 178 billion.
Its Egyptian distribution infrastructure includes more than 1,200 locations across 25 governorates.
The company has attracted substantial private investment during its growth, but the planned EGX listing represents a different stage in its development.
Instead of relying predominantly on venture capital, private equity and debt financing, MNT-Halan’s Egyptian business is preparing to face the transparency, governance and performance expectations of public-market investors.
A Test for African Fintech IPOs
That makes the transaction significant beyond Egypt.
Africa has produced a growing number of heavily funded fintech companies over the past decade, but relatively few have progressed from private startup financing into major domestic public-market listings.
MNT-Halan could provide an important test of whether local and international investors are prepared to back mature African fintech businesses through public markets.
The participation of CIB is an early indication of institutional interest.
The real test begins when subscriptions open on October 7.
Demand for the public and private tranches, the level of any oversubscription and MNT-Halan’s eventual performance once trading begins will provide a clearer picture of investor appetite.
If the listing succeeds, MNT-Halan could become more than another African fintech success story.
It could provide a significant case study for how the continent’s largest privately backed technology companies eventually make the transition from venture capital to public markets.