Commercial International Bank said on Monday that it has signed a cornerstone investment agreement, dated September 24, to buy up to EGP 2 billion ($38 million) of shares in the international offering that forms part of MNT-Halan’s share offering and Egyptian Exchange listing.
The commitment is subject to the agreement’s terms and to MNT-Halan’s offering documents. CIB did not disclose how many shares it will buy.
MNT-Halan said last week that it plans to sell 320 million shares, 20% of its Egyptian business, through a private placement to institutional investors and a public offering in Egypt.
The final price will be set through a book-build, and the listing is expected in October, subject to market conditions and regulatory approvals. The Egyptian Exchange’s listing committee approved a temporary listing of 1.6 billion shares on September 14.
In CIB’s statement, MNT-Halan founder and chief executive Mounir Nakhla said the group has originated EGP 178 billion ($3.4 billion) in financing since its inception in December 2009 and has served about 7.9 million customers, as at June 2026.
A cornerstone investor commits to buy shares before an offering opens, which gives other investors an early signal of demand.