Egypt’s MNT-Halan has completed subscriptions for the private tranche of its initial public offering (IPO), with demand reaching 11.2 times the shares available at an offer price of 24.50 Egyptian pounds per share, the fintech company said.

The private placement was 19.4 times oversubscribed when cornerstone investors were excluded, MNT-Halan said in a statement, as the company’s public offering entered its final day on the Egyptian Exchange.

The private tranche attracted orders from more than 300 investors across more than 10 countries, including Egypt, Gulf Cooperation Council countries, Britain, France, Switzerland and South Africa, the company said.

The public subscription is scheduled to close on October 15, with 48 million shares allocated to individual investors.

MNT-Halan IPO offers 320 million shares

The offering involves the sale of 320 million ordinary shares by MNT Investments B.V., the selling shareholder. The shares represent 20% of MNT-Halan’s issued share capital before the offering closes, according to the company.

Of the shares on offer, 272 million have been allocated to institutional investors through the private placement, while 48 million are reserved for the public tranche in Egypt.

At the offer price of 24.50 pounds per share, the transaction is valued at approximately 7.84 billion Egyptian pounds.

The transaction is structured as a sale of existing shares by the shareholder rather than a direct issuance of all the offered shares by the company.

The distinction matters because proceeds from a secondary share sale generally go to the selling shareholder, rather than directly to the business.

MNT-Halan’s Egyptian business is listed on the Egyptian Exchange under the name MNT Tech Holding for Financial Investments SAE. Its shares were listed on September 14, 2026, under the ticker HALN.CA, according to company information.

Investor demand spans regional and international markets

The private tranche’s subscription level indicates that investors submitted orders substantially above the number of shares allocated to the placement.

An offering described as 11.2 times oversubscribed receives orders equivalent to 11.2 times the available allocation, although that does not mean every investor will receive the number of shares requested.

The company said investors from more than 10 countries participated in the private tranche. The geographical spread included markets in the Gulf, Europe and Africa, alongside Egypt.

The subscription figures relate specifically to the institutional placement and should not be confused with demand for the public tranche. The two parts of the offering have separate allocations and subscription processes.

Retail demand had also exceeded the shares available before the final subscription day. Arab Finance reported on October 13 that orders for approximately 252.51 million shares had been placed against the 48 million shares reserved for individual investors, representing subscription coverage of about 5.26 times at that point.

CEO cites demand as company plans next phase

Mounir Nakhla, MNT-Halan’s founder, chief executive officer and managing director, said the company intended to use its technology and financial services platform to expand its product range and reach more customers.

“We are proud to enter the next phase of our journey, building on our track record of high growth and robust profitability to broaden our product ecosystem, deepen customer engagement and harness our proprietary technology to expand access to financial services,” Nakhla said.

He said the demand for the IPO reflected investor confidence in the financial services business and its growth opportunities. His comments were included in the company’s announcement of the private tranche results.

The subscription figures do not, on their own, establish the company’s future financial performance or how its shares will trade after the offering. Investors will also assess the company’s financial results, business risks, valuation and prospects for growth.

MNT-Halan expands its capital-market profile

MNT-Halan operates in Egypt’s financial technology sector, providing digital financial services to consumers and businesses. The group has expanded its lending and other financial products as it seeks to reach customers who may have limited access to traditional banking services.

Reuters reported earlier in October that the company planned to sell a 20% stake in its Egyptian business through the IPO. The planned sale was among Egypt’s larger recent listings and formed part of a wider effort to develop the country’s capital markets.

The offering price of 24.50 pounds per share gives investors a reference point for assessing the listed business, although the price alone does not determine whether the shares are attractively valued.

That assessment depends on factors including earnings, the quality of the loan portfolio, funding costs, operating expenses and the outlook for demand for financial services.

For MNT-Halan, the private placement provides a measure of institutional investor demand at the stated offer price. The final outcome of the public tranche will provide a further indication of participation by individual investors.

The public offering is scheduled to close on October 15, according to the announced timetable. Allocation results and subsequent trading will determine how the shares are distributed and how the market values the company after the offering.