Tarek El-Tablawy

Egyptian fintech unicorn MNT-Halan is seeking to raise 7.84 billion pounds ($150 million), in what would be the country’s biggest initial public offering in dollar terms for about five years.

Egyptian inflation slowed for a second straight month to its lowest level since February, riding out renewed price pressures amid an escalation in the Iran war.

Banque du Caire will sell a 30% stake via Egypt’s stock exchange, a long-awaited state-asset sale that would also be the country’s second major initial public offering in a month.

Egyptian President Abdel-Fattah El-Sisi said his nation stands ready to defend Saudi Arabia as it comes under attack from Yemen’s Houthis and called on parliament to convene an emergency session to authorize such action if it became necessary.

Banque du Caire is looking to raise as much as 24.25 billion Egyptian pounds ($454 million) via the sale of a 30% stake, in what would be the North African country’s largest initial public offering in years.

Shares of fintech unicorn MNT-Halan rose as much as 18% as they debuted on the Egyptian stock exchange on Tuesday after the country’s biggest initial public offering in dollar terms since at least 2021.

The Egyptian pound fell to its weakest level against the US dollar on Thursday in offshore trading, dropping 1.7% from the previous day’s close.

Banque du Caire boosted the stake it’s offering in a long-delayed IPO to 45%, in what would be Egypt’s largest initial public offering in more than a decade.

Banque du Caire said the private placement of its initial public offering closed at the top of the range, following heavy demand for Egypt’s biggest IPO in more than a decade.

Egypt’s parliament gave President Abdel-Fattah El-Sisi the green light to take steps necessary to defend Saudi Arabia, as the Houthis in Yemen keep up strikes against the kingdom.