Swvl to list 35% stake on Nasdaq in Q1

3 months ago 3189
By Arab Finance Published: February 01, 2022 5:07 PM

Swvl Holdings Corp, an Egyptian ride-hailing startup based in Dubai, is getting ready to list 35% of its shares on the Nasdaq Stock Market after merging with Queen's Gambit Growth Capital in February or March, Al Mal Newspaper reported, citing swvl’s Chief Financial Officer (CFO) Youssef Salem.

The initial public offering (IPO) is expected to take place in the first quarter (Q1) of 2022, Salem remarked.

On the other hand, he revealed that Swvl has won the rights of being the official transport of Pakistan’s cricket team Quetta Gladiators.

In July 2021, Swvl announced it signed the final deal to merge with Queen’s Gambit Growth Capital in a deal estimated at a value of $1.5 billion.

Founded in 2017, SWVL offers intra and intercity travel options, along with B2B partnerships with public and private institutions aimed at transporting students and employees.

Arab Finance
Source Article