MNT Halan Advances IPO Plans with EGX Approval

MNT Halan, an Egyptian fintech unicorn, has cleared a major regulatory hurdle for its initial public offering (IPO) by receiving approval from the Egyptian Exchange (EGX) for a temporary listing of 1.6 billion shares in MNT Tech Holding for Financial Investments, its holding company. This listing pertains only to its Egyptian operations, while the parent company, which has subsidiaries in Pakistan, Turkey, and the United Arab Emirates, will remain private.

The shares will be traded under the ticker “HALN.CA” on the EGX. However, this temporary listing does not allow immediate trading; MNT Halan has six months to fulfill the remaining listing requirements, or the listing will lapse, although the regulator has the option to extend the deadline.

MNT Halan raised $400 million in 2023, contributing to its status as a unicorn, and has secured substantial funding through various means, including securitization.