- Omar Radwan: Attracting huge successful entities is a strategic utmost priority for EGX
- Mounir Nakhla: Offering on EGX confirms our trust in the future of the Egyptian capital market and its ability to provide greater opportunities for companies’ growth
EGX organized today Ringing-The-Bell on the occasion of the official commencement of trading the shares of MNT tech holding for financial investments (MNT-Halan) on the main market in the non-banking financial services sector, following the large successful completion of its initial public offering.
The celebration witnessed the attendance of Mr. Omar Radwan, EGX Executive Chairman, and Mr. Mohamed Sabry, EGX Vice Chairman. In addition to Dr. Ghada Waly, Chairman of the board of MNT Halan, Mr. Mounir Nakhla, Founder and Chief Executive Officer MNT Halan, members of the board of the company, and distinguished leaders from the financial market and business community, as well as representatives of investment banks and financial institutions who participated in the management of the offering.
According to the latest figures, the company’s capital reached EGP160 million, divided over 1.6 billion shares, with par value EGP 0.1 per share. While the offering represented 20% of the company’s total shares, totaling 320 million shares. The market capital of the company according to the offering price is about EGP39.2 billion.
From his side, Omar Radwan, EGX Executive Chairman, emphasized that hosting the official commencement of trading the shares of “Halan” at the historic trading hall represents a milestone in the Egyptian financial market, reflecting its vitality and ability to attract promising successful national models. He clarified that success of the initial public offering and the huge turnout it witnessed practically represents the strategic vision of EGX, being the leading national platform for funding sustainable growth of major economic entities, and the bridge to going global through developing their institutional strategies.
Omar Radwan added that “Halan” presented an inspiring model of how to turn ambitious projects and ideas into leading institutional entities, utilizing innovation and technology to serve millions of citizens. He pointed out that the company’s joining EGX proves that EGX is the most efficient and fair path providing liquidity, financing future expansions, and enhancing governance. He stressed that listing large entities and their offering is not just a mechanism for increasing capital and diversifying funding sources with the least cost, but it actually represents the real secure path for sustainability of these companies and their continuity across generations, while establishing transparency rules and protecting shareholders’ investments.
EGX Executive Chairman pointed out that success of this offering delivers a message of strong trust to the business and investment community, opening the way for a new wave of major investment entities and companies of leading experiences to join EGX. He emphasized that attracting such successful large entities remains our utmost strategic priority to manage the market, being the key factor to deepen liquidity of the market, expand ownership base, and diversify the available investment options for both institutions as well as small investors.
In the same context, Mr. Mounir Nakhla, Founder & CEO of MNT Halan, said, “Commencement of trading on the shares of MNT Halan on EGX is an important step in our journey. The strong interest in the offering reflects trust of investors in the integrated financial services system we built, as well as our ability to continue growth and achieve profitability. Since we started, our goal was expanding range of financial services across Egypt, providing opportunities for a larger segment of individuals and business owners. We are looking forward to building on what we achieved through developing our products, enhancing our relationship with our customers, and utilizing technology to reach more Egyptians and meeting their financial needs.”
Nakhla added “Listing also represents a confirmation of our trust in the future of the Egyptian capital market and its ability to provide greater opportunities for growth of companies and development of the financial sector. We really appreciate efforts of the Egyptian government, The Central Bank of Egypt, The Financial Regulatory Authority, and The Egyptian Exchange. We also thank our partners from banks, asset managers, as well as all the parties that contributed to the success of this offering, hoping to continue our path starting from this important step.”
