Swvl celebrates start of trading on company’s shares on Nasdaq Stock Exchange – Egypt Today

Swvl celebrates start of trading on company’s shares on Nasdaq Stock Exchange – Egypt Today

CAIRO - 31 March 2022: Swvl celebrated Thursday, the start of trading on the company’s shares on the Nasdaq Stock Exchange in the United States of America, becoming the first technology-based mass transit company to be offered on any stock exchange in the world, and the second company from the Middle East to be listed on the Nasdaq Stock Exchange. The Egyptian Stock Exchange received the Swvl team in Egypt, coinciding with the start of trading on the company’s shares on the Nasdaq Stock Exchange in New York, in the presence of Minister of Planning and Economic Development, Hala El-Said, Ambassador Nabila Makram, Minister of Immigration, and Jihan Saleh, Economic Adviser to the Chairman of the Board Ministers, as well as representatives of a number of Egyptian startups and investment funds. The company, which provides smart mass transit services in more than twenty countries worldwide, seeks to use the proceeds of the offering to implement an expansion plan that includes access to new markets as well as to deepen its services in existing markets. Mustafa Kandil, founder and CEO of Swvl, said that the listing on Nasdaq represents a milestone for the company and the field of sustainable mass transit