Hada News
MNT-Halan readies October EGX float as CIB commits up to EGP 2bn as cornerstone
The Egyptian arm of fintech lender MNT-Halan plans to sell 20% of its shares on the Egyptian Exchange this month, and Commercial International Bank said on 5 October it has agreed to buy up to EGP 2 billion of the offering as a cornerstone investor. An offer price for the offering has been set.
MNT Tech Holding for Financial Investments, the Egyptian business of fintech lender MNT-Halan, said in a 1 October intention-to-float notice that its parent, MNT Investments B.V., will sell 320 million existing shares, or 20% of issued capital, through a private placement for institutions and a public offering in Egypt. The company expects to complete the deal during October, subject to approvals from the Financial Regulatory Authority (FRA) and the EGX and to market conditions.
On 5 October, Commercial International Bank (CIB) said it had signed a cornerstone agreement, dated 24 September, to buy up to EGP 2 billion of shares in the international part of the offering. EnterpriseAM reported that founder and CEO Mounir Nakhla told its forum the offering documents were with the FRA awaiting final sign-off.
The structure matters. The sale is fully secondary, so proceeds go to the selling parent; after the offering, the parent has undertaken to subscribe for new shares worth up to EGP 4 billion at the offer price. About 24.3 million shares are earmarked for senior managers before trading starts, subject to FRA approval. The EGX listing committee granted a temporary listing for 1.6 billion shares on 14 September. The price will be set by bookbuilding, with Citigroup and EFG Hermes as joint global coordinators. The company says it has disbursed EGP 178 billion since 2009 and served about 1.9 million active customers as of June 2026. Nakhla told EnterpriseAM that part of the capital increase would go to the group's Turkish business and an acquisition in an Arabic-speaking market he did not name.
Why it matters: Reuters called it one of Egypt's largest listings in years. It tests foreign appetite for an EGX-listed fintech, and a large domestic bank has already signed up as an anchor.
Sources: MNT-Halan intention-to-float notice (via Zawya, 1 Oct 2026); CIB cornerstone statement (via Zawya, 5 Oct 2026); EnterpriseAM, 6 Oct 2026; Reuters via MarketScreener, 1 Oct 2026.
Watch next: the FRA-approved public subscription notice with the offer price and retail dates, and the first day of trading on the EGX.