Arab Finance: MNT-Halan is set to offer 320 million shares, equivalent to 20% of its total share capital of 1.6 billion shares, at an offering price of EGP 24.50 per share, according to a bourse filing.

The offering price compares with a fair value of EGP 25.92 per share.

Under the public offering, MNT-Halan will offer 48 million shares, representing 15% of the total offering and 3% of the company's total share capital. The public offering will have a minimum subscription of 100 shares, with investors required to pay 25% of the value of their subscription request. 

Meanwhile, the private offering will see the offering of 272 million shares, accounting for 85% of the total offering and 17% of MNT-Halan’s total share capital. It will have a minimum subscription of EGP 5 million for high-net-worth individual investors and EGP 10 million for financial institutions.

An additional 80 million shares may also be offered depending on the level of subscription coverage.

The public offering will run from October 7 to 15, while the private offering will take place from October 7 to 13.

In September, the EGX Listing Committee approved the temporary listing of 1.6 billion shares in MNT-Halan, representing an issued capital of EGP 160 million. The company will be traded under the ticker (HALN.CA) once trading begins.