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EFG Hermes, the investment bank arm of EFG Holding and the leading investment bank in the Middle East and North Africa (MENA) region, has successfully managed and completed the Initial Public Offering (IPO) of MNT Tech Holding for Financial Investments S.A.E. ("MNT-Halan") on the Egyptian Exchange (EGX), acting as Sole Global Coordinator and Bookrunner.

Transaction Details and Subscription Volume

The offer price was set at EGP 24.50 per share, bringing the total IPO size to EGP 7.84 billion. This marks Egypt’s largest IPO since 2021 in USD terms and the largest private-sector IPO in the country in a decade.

The offering comprised a secondary sale of 320 million ordinary shares (representing 20% of the company's issued share capital) held by MNT Investments B.V. It was split into a private placement for qualified investors and a public offering for retail investors. Following the IPO, the selling shareholder will subscribe to additional shares via a closed subscription at the offer price, totaling up to EGP 4 billion to support MNT-Halan's next phase of growth.

Record Investment Demand and Exceptional Coverage

The IPO witnessed record demand totaling approximately EGP 126 billion. The private placement was oversubscribed 11.2 times (rising to 19.4 times excluding cornerstone investors: Commercial International Bank and RWC). Meanwhile, the retail tranche achieved a historic coverage ratio of 43.6 times across more than 41,500 subscription orders.

A Landmark Milestone and Capital Inflow

Mostafa Gad, Head of Investment Banking at EFG Hermes, highlighted that this transaction marks a major turning point for the Egyptian capital market. He praised MNT-Halan’s business model, which serves 1.9 million active customers through the "Halan" application and over 1,200 distribution points across 25 governorates, reinforcing its strong appeal to both local and international investors