MNT Tech Holding for Financial Investments – the holding company behind fintech leader MNT-Halan – secured a provisional admission to trade on the Egyptian Exchange, clearing the principal regulatory obstacle before a full Cairo launch. The EGX listing panel gave its approval during the meeting held on 14 September, authorising an authorized capital of EGP 160 million (approximately US$3 million) divided into 1.6 billion ordinary shares with a nominal value of EGP 0.10 each.
The securities were entered into the exchange’s system on 15 September under the Non-banking Financial Services segment, carrying the ticker HALN.CA. At present, trading is suspended pending clearance from the Financial Regulatory Authority, and the firm must finalise its FRA registration and submit a formal request to the EGX to carry out the offering within the allotted period.
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Listing Deadline and Regulatory Requirements
The panel attached a six-month deadline: MNT Tech must conclude the share issue and fulfil every stipulated condition for a permanent listing, otherwise the provisional admission will be considered null and void. The FRA may grant an extension provided the company presents acceptable reasons and a revised timetable. In effect, the window runs until roughly mid-March 2027. This firm schedule shows the importance of the transaction for both the company and the exchange, as the Egyptian market seeks to draw in overseas capital. The committee’s ruling therefore imposes a clear cut-off for MNT-Halan to complete all regulatory steps and make its shares available to the public.
Valuation and Strategic Structure of the Offering
The valuation aspect draws particular attention. In June, MNT-Halan was valued at US$1.4 billion after a financing round led by Al Ahly Capital, the private-equity branch of the National Bank of Egypt, marking the first occasion a commercial bank took an equity stake in a firm that had previously only borrowed from more than thirty Egyptian banks and finance institutions.
However, the upcoming flotation pertains solely to the Egyptian entity, which Bloomberg reported in June was being marketed at a price range of US$900 million to US$1 billion, with Citigroup and EFG Hermes acting as advisers. The operations in Turkey, the United Arab Emirates and Pakistan would remain outside the listed vehicle, meaning retail investors would acquire a smaller, cleaner asset at a reduced price.
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MNT-Halan’s Evolution and Market Catalyst
Founded in 2018 as a ride-hailing platform for two- and three-wheel vehicles, MNT-Halan has evolved into Egypt’s biggest non-bank lender serving unbanked and under-banked customers, having disbursed more than US$15.5 billion in credit and reaching over eight million users. The company attained unicorn status in 2023 following a US$400 million equity-and-debt round that placed its valuation at US$1 billion.
For entrepreneurs in Lagos and Nairobi eyeing a credible exit, the structuring is as key as the valuation: isolate the regulated domestic business with the strongest cash flow, keep the higher-risk cross-border activities private, and list the core operation locally. The Egyptian main index has risen over 23% this year, yet foreign inflows have remained limited; bankers view the MNT-Halan offering as a catalyst to reverse that trend, prompting chief executive Mounir Nakhla to meet investors across the Gulf, London and the United States. The buy-now-pay-later platform Valu, which listed in 2025, surged on its first trading day.
