Kandil

Swvl Reports Receipt of Nasdaq Minimum Bid Price Notification

Retrieved on: 
Friday, November 4, 2022

The Nasdaq Stock Market Rules provide the Company a period of 180 calendar days to regain compliance.

Key Points: 
  • The Nasdaq Stock Market Rules provide the Company a period of 180 calendar days to regain compliance.
  • According to the Letter, the Company has until May 1, 2023, to regain compliance with the minimum bid price requirement.
  • The Letter from Nasdaq has no immediate effect on the Companys Nasdaq listing or the trading of its Ordinary Shares on Nasdaq, and during the aforementioned cure period, as may be extended, the Companys Ordinary Shares will continue to trade on the Nasdaq Global Market under the symbol SWVL.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces 58% of its Portfolio Turns Adjusted EBITDA Breakeven

Retrieved on: 
Tuesday, October 4, 2022

Youssef Salem, Swvl CFO, said, With 58% of our portfolio turning Adjusted EBITDA neutral or positive, we believe that we are on track to turn cashflow positive in 2023.

Key Points: 
  • Youssef Salem, Swvl CFO, said, With 58% of our portfolio turning Adjusted EBITDA neutral or positive, we believe that we are on track to turn cashflow positive in 2023.
  • The countries achieving Adjusted EBITDA profitability include 3 of our organic markets and 2 markets we entered as a result of our recent acquisitions.
  • Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation across > 20 countries.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces Initiation of Equity Analyst Coverage by Alliance Global and Barclays with price targets of $5 and $1.5 respectively

Retrieved on: 
Wednesday, September 28, 2022

This follows the recent initiation of coverage from Baird with an Outperform Rating and price target of $8.

Key Points: 
  • This follows the recent initiation of coverage from Baird with an Outperform Rating and price target of $8.
  • Copies of the full analyst reports can be obtained directly from Barclays, Alliance Global and Baird.
  • All reports on Swvl prepared by analysts represent the views of such analysts and are not necessarily those of Swvl.
  • Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation across > 20 countries.

Swvl Announces Initiation of Equity Analyst Coverage by Baird with "Outperform" Rating

Retrieved on: 
Monday, September 12, 2022

NEW YORK, Sept. 12, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced that Baird has initiated coverage on the Company with "Outperform" Rating and price target substantially higher than Swvl's current trading price.

Key Points: 
  • Copies of the full analyst report can be obtained directly from Baird.
  • All reports on Swvl prepared by analysts represent the views of such analysts and are not necessarily those of Swvl.
  • Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation across > 20 countries.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces Initiation of Equity Analyst Coverage by Baird with "Outperform" Rating

Retrieved on: 
Monday, September 12, 2022

NEW YORK, Sept. 12, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced that Baird has initiated coverage on the Company with "Outperform" Rating and price target substantially higher than Swvl's current trading price.

Key Points: 
  • Copies of the full analyst report can be obtained directly from Baird.
  • All reports on Swvl prepared by analysts represent the views of such analysts and are not necessarily those of Swvl.
  • Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation across > 20 countries.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces First Half 2022 Results

Retrieved on: 
Wednesday, August 17, 2022

NEW YORK, Aug. 17, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced results for the First Half of 2022 and select results for the Second Quarter of 2022. Swvl's condensed unaudited interim financial statements for the six-month periods ended June 30, 2022 and 2021, and supplementary information are available on Swvl's website here. 

Key Points: 
  • Second Quarter 2022 represents another record-breaking quarter based on revenue, growing total bookings 3.7x YoY and crossing the 100 mn total bookings milestone
    Total ticket fares of $56.0 mn in six months ended June 30, 2022, up 3.2x from six months ended June 30, 2021
    Well capitalized with $19 mn cash on balance sheet as of June 30, 2022; $29 mn subsequently raised in early Q3 from a private placement and equity facility; access to > $460 mn remaining equity facility
    NEW YORK, Aug. 17, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced results for the First Half of 2022 and select results for the Second Quarter of 2022.
  • Youssef Salem, Swvl CFO, said, "The first half of 2022 marked several important milestones for us including growing 3.7x and 3.2x on total bookings and revenue, respectively, as compared to the first half of 2021.
  • There may be additional risks that Swvl presently does not know or that Swvl currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces First Half 2022 Results

Retrieved on: 
Wednesday, August 17, 2022

NEW YORK, Aug. 17, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced results for the First Half of 2022 and select results for the Second Quarter of 2022. Swvl's condensed unaudited interim financial statements for the six-month periods ended June 30, 2022 and 2021, and supplementary information are available on Swvl's website here. 

Key Points: 
  • Second Quarter 2022 represents another record-breaking quarter based on revenue, growing total bookings 3.7x YoY and crossing the 100 mn total bookings milestone
    Total ticket fares of $56.0 mn in six months ended June 30, 2022, up 3.2x from six months ended June 30, 2021
    Well capitalized with $19 mn cash on balance sheet as of June 30, 2022; $29 mn subsequently raised in early Q3 from a private placement and equity facility; access to > $460 mn remaining equity facility
    NEW YORK, Aug. 17, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced results for the First Half of 2022 and select results for the Second Quarter of 2022.
  • Youssef Salem, Swvl CFO, said, "The first half of 2022 marked several important milestones for us including growing 3.7x and 3.2x on total bookings and revenue, respectively, as compared to the first half of 2021.
  • There may be additional risks that Swvl presently does not know or that Swvl currently believes are immaterial that could also cause actual results to differ from those contained in forward-looking statements.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces $20 Million Private Placement

Retrieved on: 
Wednesday, August 10, 2022

NEW YORK, Aug. 10, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced that it has entered into a definitive agreement with a single U.S. institutional investor for the purchase and sale of 12,121,214 of its ordinary shares together with series A warrants and series B warrants (together, the "Securities") at a combined purchase price of $1.65 per ordinary share, pursuant to a private placement, resulting in total gross proceeds at closing of approximately $20 million before deducting placement agent commissions and other estimated offering expenses. The series A warrants may purchase up to 12,121,214 of the Company's ordinary shares and the series B warrants may purchase up to 6,060,607 of the Company's ordinary shares. The series A warrants and series B warrants will each have an exercise price of $1.65 per share, will each be exercisable immediately upon issuance and will expire five years from the date of issuance and two years from the date of issuance, respectively. If, during their respective five year and two year terms, all the warrants are exercised for cash, based on the exercise price of $1.65 per share, the Company will receive an additional $30 million in gross proceeds. The closing of the private placement and sale of the Securities is expected to occur on or about August 12, 2022, subject to the satisfaction of customary closing conditions.  

Key Points: 
  • The closing of the private placement and sale of the Securities is expected to occur on or about August 12, 2022, subject to the satisfaction of customary closing conditions.
  • A.G.P./Alliance Global Partners is acting as the sole placement agent for the private placement.
  • These forward-looking statements include, but are not limited to statements regarding future events and the closing of the private placement.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Announces $20 Million Private Placement

Retrieved on: 
Wednesday, August 10, 2022

NEW YORK, Aug. 10, 2022 /PRNewswire/ -- Swvl Holdings Corp ("Swvl" or the "Company") (NASDAQ: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced that it has entered into a definitive agreement with a single U.S. institutional investor for the purchase and sale of 12,121,214 of its ordinary shares together with series A warrants and series B warrants (together, the "Securities") at a combined purchase price of $1.65 per ordinary share, pursuant to a private placement, resulting in total gross proceeds at closing of approximately $20 million before deducting placement agent commissions and other estimated offering expenses. The series A warrants may purchase up to 12,121,214 of the Company's ordinary shares and the series B warrants may purchase up to 6,060,607 of the Company's ordinary shares. The series A warrants and series B warrants will each have an exercise price of $1.65 per share, will each be exercisable immediately upon issuance and will expire five years from the date of issuance and two years from the date of issuance, respectively. If, during their respective five year and two year terms, all the warrants are exercised for cash, based on the exercise price of $1.65 per share, the Company will receive an additional $30 million in gross proceeds. The closing of the private placement and sale of the Securities is expected to occur on or about August 12, 2022, subject to the satisfaction of customary closing conditions.  

Key Points: 
  • The closing of the private placement and sale of the Securities is expected to occur on or about August 12, 2022, subject to the satisfaction of customary closing conditions.
  • A.G.P./Alliance Global Partners is acting as the sole placement agent for the private placement.
  • These forward-looking statements include, but are not limited to statements regarding future events and the closing of the private placement.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.

Swvl Adds a New Key Partner, City Group, the Leading Mass Transit Operator in Kuwait, to its SaaS Offering

Retrieved on: 
Monday, August 1, 2022

Swvl and City Group will initially focus on the development of an initial launch program titled "Citylink Shuttle."

Key Points: 
  • Swvl and City Group will initially focus on the development of an initial launch program titled "Citylink Shuttle."
  • Mostafa Kandil, Swvl Founder and CEO, said, "We are excited to partner with City Group to bring next generation of transportation solutions to Kuwait.
  • Swvl is a global provider of transformative tech-enabled mass transit solutions, offering intercity, intracity, B2B and B2G transportation across > 135 cities in > 20 countries.
  • However, while Swvl may elect to update these forward-looking statements in the future, Swvl specifically disclaims any obligation to do so.