MNT Tech Holding Launches $149 Million Egyptian IPO

MNT Tech Holding, the Egyptian arm of fintech unicorn MNT-Halan, is launching a 7.84 billion Egyptian pound ($149 million) initial public offering. This represents the largest IPO in Egypt since 2021 and consists of 320 million shares, or approximately 20 percent of the company's issued share capital.

Shares are priced at 24.50 Egyptian pounds each. The offering is split between a public offering of 48 million shares and a private placement of up to 272 million shares. The subscription period runs from October 7 to October 15, with minimum investment thresholds set at 5 million pounds for high-net-worth individuals and 10 million pounds for financial institutions.

The listing aligns with Egyptian government initiatives to attract private-sector investment and deepen capital markets. This broader strategy includes a target by the Ministry of Finance to raise between $1.25 billion and $1.5 billion through the listing of several state-owned companies by the end of the current fiscal year.