19 Hrs
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الاقتصادية
Ensan M T Alhal Plans to Issue 20% Shares
Egyptian Fintech Company "MNT Now" plans to offer 20% of its shares on the Egyptian stock market through an initial public offering (IPO) later this month, subject to market conditions and regulatory approvals. The company was founded in 2018 and is the first Egyptian fintech company to surpass a valuation of one billion dollars (unicorn status). Its plans include selling 320 million shares, representing 20% of its capital, with the potential to sell an additional 24.3 million shares to key employees. The goal is to attract foreign investors and boost the Egyptian capital market. The offering comes after the company's successful loan disbursements totaling $6.1 billion to over a million customers, as well as international expansions into Pakistan and Turkey. Its latest market valuation was $1.4 billion.
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