SWVL to list on NASDAQ

DailyTimes  |  Jul 29, 2021

Swvl Inc. , a Dubai-based provider of transformativemass transit and shared mobility solutions, and Queen’s Gambit Growth Capital (“Queen’s Gambit”) (NASDAQ: GMBT),the first special purpose acquisitioncompany led by women, today announced that they have entered into a definitive agreement for a business combination that would result in Swvl becoming a publicly listed company. Upon completion of the proposed transaction, the combined public companywill be named Swvl Holdings Corp and is expected to be listed on NASDAQ under the ticker symbol “SWVL”. MostafaKandil, Swvl Founder and CEO, said, “Mass transit systems in cities around the world are riddled with deficiencies, resulting in congestion, environmental concerns and reduced productivity.In certain emerging market cities, commuter round-trip wait times are often greater than 40 minutes and, in one major city, upwards of 80% of women reported that they have experienced harassment on public transport. Even in developed markets, the societal cost imposed by a lack of mass transit solutions can be staggering. To address these problems, we founded Swvl with a simple but ambitious goal – to empower all people to go where they want to, when they want to, and to feel comfortable doing it.”

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