MNT-Halan Gets EGX Temporary Listing Ahead of Cairo IPO

In Short

Egypt’s stock exchange has granted a temporary listing to MNT Tech Holding, the parent of MNT-Halan.

The company has six months to complete the share offering and meet all final listing conditions.

Trading will not start until Egypt’s Financial Regulatory Authority approves the steps.

What Happened

MNT-Halan has moved one step closer to a Cairo IPO after the Egyptian Exchange, EGX, approved a temporary listing for MNT Tech Holding for Financial Investments.

The EGX listing committee signed off at a 14 September meeting. The listing covers issued capital of EGP 160 million, about $3 million, split into 1.6 billion shares with a par value of EGP 0.10. The shares were added to the exchange database on 15 September under the Non-banking Financial Services sector, with the ticker HALN.CA.

A temporary listing is not the same as a live, tradable stock. It is closer to a placeholder on the exchange while the company completes regulatory and offering requirements.

The EGX has set a six-month deadline. MNT Tech must complete the offering and meet all conditions for a final listing within that window. If it does not, the temporary listing is treated as if it never happened.

Trading is currently frozen, and it will remain frozen without approval from Egypt’s Financial Regulatory Authority, FRA. The company also needs to complete FRA registration steps and formally apply to the EGX to execute the offering within the deadline. The FRA can extend the timeline if the company provides acceptable justifications and a timetable.

Why It Matters

This IPO could become Egypt’s biggest tech listing and a key test for local public markets.

Valuation will be closely watched. In June, MNT-Halan was valued at $1.4 billion after an investment led by Al Ahly Capital. But the EGX listing is expected to cover the Egyptian unit only, with Bloomberg reporting it was pitched around $900 million to $1 billion, and the Turkey, UAE, and Pakistan businesses would sit outside the listed entity.

For investors, that structure can lower risk. It ring-fences the most regulated, revenue-heavy local business, while keeping more volatile cross-border operations private.

For founders and early backers across Africa, the deal is also about exits. A successful Cairo listing would strengthen the case that home-market IPOs can work for fintech and lending businesses, not just global acquisitions.

In Egypt, the timing matters too. The main index is up this year, but foreign participation has been limited. Bankers and executives appear to be positioning MNT-Halan as a deal that could bring international capital back into the EGX.

Related: Egypt’s buy-now-pay-later player Valu listed in 2025 and jumped on day one, a reference point local markets will remember as this process moves toward March 2027.