Egyptian fintech MNT-Halan began trading on the Egyptian Exchange on Tuesday 20 October 2026 under the ticker HALN.CA, after selling 20% of its Egyptian business at EGP 24.50 a share. The stock reportedly opened at the offer price and touched an intraday high near EGP 28.80 to 28.91, up to 18% above the offer, but closed at about EGP 26.20, up 6.9%, according to Enterprise. Techpoint Africa and Condia reported the 18% peak as the day's gain. Outlets differ on the high (28.80 versus 28.91), and the close is per Enterprise, not an exchange bulletin. The company itself raised no new money from the sale.
"We remain focused on broadening our product ecosystem, deepening customer engagement," said founder and CEO Mounir Nakhla, as quoted by Arab Finance.
READ ALSO: Airtel Money Opens on London Stock Exchange at £5.3 Billion Valuation
READ ALSO: OPay Files for a New York IPO After Making $90.9M in Six Months
The deal in numbers
Gibson Dunn, the law firm that advised MNT-Halan and the selling shareholder, published the core terms. Treat it as an adviser's statement rather than an exchange filing.
| Item | Detail |
|---|---|
| Listing date | 20 October 2026 |
| Ticker | HALN.CA |
| Offer price | EGP 24.50 per share |
| Shares sold | 320 million existing shares, about 20% |
| Institutional tranche | 272 million shares, 11.2 times covered |
| Retail tranche | 48 million shares, 43.6 times covered, 41,500+ orders |
| Headline size | About EGP 7.84 billion (Arab News and Condia put it at about $149M to $150M; the EGP figure is shares times price) |
| Day-one close | About EGP 26.20, up 6.9% (Enterprise); intraday high EGP 28.80 to 28.91 |
Arab News described it ahead of the sale as Egypt's largest IPO since 2021, a claim it does not attribute to anyone. Techpoint attributes a similar record claim to adviser EFG Hermes. EFG Hermes has not published it.
Who sold, and why the company got no cash
The shares came from the parent, MNT Investments B.V. Because it was a sale of existing shares, none of the proceeds go to the listed business. Gibson Dunn says the parent has a closed subscription for up to EGP 4 billion of new shares at the offer price after the offering. If that completes, that is where fresh capital reaches the Egyptian company.
The business behind the ticker
Techpoint describes MNT-Halan as a fintech offering microfinance, consumer loans, small business financing and payments. Arab Finance reports about 7.9 million customers since inception, about 1.9 million active each year, and more than EGP 178 billion disbursed to 30 June 2026. Techpoint, citing pre-IPO reporting, puts the Egyptian gross loan book at EGP 46.7 billion, 2025 adjusted revenue at EGP 20.5 billion and 2025 net income at EGP 1.98 billion, up 44%.
Valuation: do not mix the numbers
At the close, Enterprise puts the Egyptian arm's market value at about EGP 41.9 billion. On the offer-price rally, Techpoint and Condia put the listed Egyptian business at roughly $745 million. An Innovation Village headline cites $770 million, though we did not read its body, so the figure depends on the price and exchange rate used. All of these are lower than the $1.4 billion valuation reported for the whole group in June 2026, but that figure also covers Turkiye, the UAE and Pakistan. They are not like for like.
What this means for Nigerian and African readers
For Nigerian fintech founders, this is another sign that African exits are happening on home or nearby exchanges. Airtel Money chose London and OPay has filed in New York. MNT-Halan picked Cairo and found enough local appetite, including thousands of retail buyers, to fill the book.
For Nigerian investors, direct access is the problem. HALN trades in Egyptian pounds in Cairo, so check whether your broker offers Egyptian market access. A lender also carries repayment risk, and Techpoint itself warns that a first-day jump does not guarantee the price will hold.
What happens after the debut
- Whether the shares hold the close. We have only day-one trading data, and the stock gave back most of its intraday gain.
- The exact day-one close and high, because outlets differ and we have no exchange bulletin.
- Whether the EGP 4 billion closed subscription has completed.
- Whether EFG Hermes publishes the record claim itself.
- Financial figures come from pre-IPO reporting, and we have not seen the prospectus. This is news, not investment advice.
Techpoint cautions that a first-day jump alone does not guarantee the share price will hold.
Sources: Gibson Dunn (adviser), Enterprise, Arab News, Arab Finance, Techpoint Africa and Condia, reviewed on 23 October 2026.
