Egypt's MNT-Halan shares rise 6.6% in Tuesday stock market debut
Lending and payments firm MNT-Halan closed its first trading day at 26.12 Egyptian pounds, above its 24.50-pound offer price.
By Standard Topic. AI-generated from the reporting listed under Coverage. Published . Updated .
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What happened
Egyptian lending and payments company MNT-Halan began trading on Tuesday after an initial public offering, the country's biggest in at least five years. Its shares, offered at 24.50 Egyptian pounds each, closed the first session at about 26.12 pounds, up roughly 6.6%. The offer valued the lender at nearly 42 billion pounds.
Why it matters
The listing is the largest Egyptian initial public offering in at least five years, according to the reports. It marks a notable debut for the company on the country's stock market.
Coverage
- Egyptian Fintech MNT-Halan Pops 6.6% In IPO Debut (finimize.com)
- Egypt fintech firm MNT-Halan rises 6.6% on debut after biggest IPO since 2021 (TradingView)
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