Swvl Reports Receipt of Nasdaq Minimum Bid Price Notification
The Nasdaq Stock Market Rules provide the Company a period of 180 calendar days to regain compliance.
- 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.