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Swvl Holdings Corp - SWVL STOCK NEWS

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Swvl Holdings Corp (NASDAQ: SWVL) is a leading technology-driven mobility company that aims to enhance mass transit with its innovative and environmentally friendly solutions. Swvl's core business focuses on providing reliable, safe, and cost-effective transportation options through a network of minibuses and other vehicles operating on fixed or semi-fixed routes within urban areas. This service is primarily accessed via the Swvl mobile app, which allows commuters to book rides between pre-defined pick-up and drop-off points throughout the city.

Swvl is not just limited to B2C offerings; it also delivers transformative tech-enabled mass transit solutions on a global scale, encompassing intercity, intracity, B2B, and B2G transportation. These services offer a semi-private alternative to traditional public transportation, particularly for individuals who cannot afford or access private transport. Swvl's platform ensures that mobility is more efficient, accessible, and environmentally friendly, empowering millions to travel safely and conveniently.

Recent achievements highlight Swvl's continuous growth and strategic moves. In July 2023, Swvl received approval from the Nasdaq Stock Market to transfer its listing to the Nasdaq Capital Market, ensuring compliance with financial and corporate governance standards. This move is set to facilitate Swvl's strategic expansions and market positioning.

Moreover, Swvl's strategic sale of Urbvan to Kolors marks a significant step in Swvl's vision for profitable growth. This transaction is expected to accelerate Swvl's expansion plans in high-priority markets, enhancing its global footprint.

Financially, Swvl has reported positive operating cash flow and net profit in the first half of 2023, showcasing the company's robust financial health and growth trajectory. The company has also secured significant contracts with notable corporations such as Holiday Inn Hotel, Siemens in Saudi Arabia, and Bosch in Egypt, further cementing its reputation as a trusted mobility solutions provider.

For more detailed information about Swvl Holdings Corp, visit www.swvl.com.

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Swvl Holdings Corp (Nasdaq: SWVL) has announced the launch of its regional headquarters (RHQ) in Riyadh, Saudi Arabia. This strategic move is part of the company's long-term growth and profitability plans in the Gulf Cooperation Council (GCC) region. By participating in Saudi Arabia's RHQ Program, which aligns with the country's Vision 2030 goals, Swvl aims to leverage program incentives and participate in government contract opportunities.

Swvl has been operating in Saudi Arabia for four years, providing technology-driven mobility solutions including fully managed and SaaS-based transportation services for businesses across various industries. The company's CEO, Mostafa Kandil, expressed excitement about contributing to Saudi Arabia's digital transformation goals and reshaping the future of transportation in the Kingdom. Saudi Arabia is currently Swvl's fastest-growing and most profitable market.

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Swvl Holdings Corp (Nasdaq: SWVL) has secured $2.6 million in new annual contracts in Saudi Arabia during Q3 2024, representing about 10% of the company's 2023 full-year revenues. This growth has led to a six-fold increase in Swvl's gross profit in Saudi Arabia compared to Q1 2023. The company will provide fully managed services and SaaS-based mobility solutions to partners across various industries in Riyadh, Dammam, Madina, and Jubail.

Swvl's technology aims to improve operational efficiency through process automation and AI-driven routing, while enhancing safety for partners, particularly in the education sector. CEO Mostafa Kandil emphasized the company's commitment to addressing critical mobility challenges and providing innovative solutions that tackle safety concerns in school transportation.

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Swvl Holdings Corp (Nasdaq: SWVL) has secured a significant 5-year contract with telecom giant e& Egypt, valued at up to $6.3 million. This strategic agreement aims to strengthen Swvl's presence in the Egyptian market and underscore its leadership in the mobility solutions sector. e& Egypt, a leading telecommunications and IT service provider, operates under the e& Group. The partnership aligns with Swvl's mission to offer innovative and efficient tech-based mobility solutions, aiming to enhance daily commutes in high-density work environments. Swvl's CEO, Mostafa Kandil, emphasizes that this collaboration highlights the trust in Swvl's solutions and supports its path towards profitable growth and sustainable transit industry standards.

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Swvl Holdings Corp (Nasdaq: SWVL), a global technology provider for enterprise and government mobility solutions, has announced the successful closure of key sales with Holiday Inn and Siemens in Saudi Arabia, and Bosch in Egypt. This development is part of Swvl’s strategy to resume growth by expanding its client base across the GCC and North Africa, specifically targeting profitable markets such as Saudi Arabia and Egypt. CEO Mostafa Kandil emphasized that these partnerships are important steps towards Swvl's goal of transforming the mobility industry, enhancing efficiency, accessibility, and sustainability. These collaborations affirm Swvl's commitment to profitable growth and strategic business development.

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Swvl Holdings Corp reported a $3.1 million net profit, 13% net margin, and an eightfold growth in gross profit for the fiscal year 2023. The company achieved cash flow positivity, no debt, and more than doubled its equity value compared to 2022. Swvl transitioned to profitability, emphasizing financial stability, operational efficiency, and profitability strategies. The CEO highlighted the team's dedication, innovation plans, product launches, and strategic partnerships in the upcoming year. Swvl aims to improve profitability, resume growth, and expand into high-revenue markets.

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Swvl Holdings Corp (Nasdaq: SWVL) Achieves Positive Operating Cash Flow and Net Profit in H1 2023
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Swvl Holdings Corp (Nasdaq: SWVL) received a letter from Nasdaq indicating non-compliance with the minimum bid price requirement, giving the company 180 days to regain compliance. If the closing bid price of its Ordinary Shares is at least $1.00 for a minimum period of ten consecutive business days, the Company will regain compliance. Failure to do so may lead to delisting, but the company may be eligible for an additional 180-day period to regain compliance.
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Swvl Holdings Corp announces the successful sale of its subsidiary Urbvan Mobility Ltd. to Kolors Inc. for $12 million.
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Swvl Holdings Corp has regained compliance with Nasdaq's audit committee requirements, ensuring continued listing on the exchange. The Company appointed new members to its board of directors and audit committee to meet the rule's specifications.
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FAQ

What is the current stock price of Swvl Holdings (SWVL)?

The current stock price of Swvl Holdings (SWVL) is $3.35 as of November 1, 2024.

What is the market cap of Swvl Holdings (SWVL)?

The market cap of Swvl Holdings (SWVL) is approximately 28.4M.

What is Swvl Holdings Corp?

Swvl Holdings Corp is a technology-driven mobility company providing reliable, safe, and cost-effective mass transit solutions globally.

What services does Swvl offer?

Swvl offers intercity, intracity, B2B, and B2G transportation solutions through a network of minibuses and other vehicles running on fixed or semi-fixed routes.

How do I book a ride with Swvl?

Commuters can book rides through the Swvl mobile app, selecting from pre-defined pick-up and drop-off points across the city.

What recent achievements has Swvl made?

Swvl has recently transferred its listing to the Nasdaq Capital Market and completed the strategic sale of Urbvan to Kolors, among other accomplishments.

What are Swvl's financial highlights?

Swvl reported positive operating cash flow and net profit in the first half of 2023, indicating robust financial health.

Who are some of Swvl's major clients?

Swvl has secured key contracts with major corporations like Holiday Inn Hotel, Siemens in Saudi Arabia, and Bosch in Egypt.

How does Swvl's platform enhance mobility?

Swvl's platform offers semi-private alternatives to public transportation, making mobility safer, more efficient, accessible, and environmentally friendly.

Is Swvl available globally?

Yes, Swvl operates on a global scale, providing tech-enabled mass transit solutions across various markets.

Where can I find more information about Swvl?

For more information, you can visit Swvl's official website at www.swvl.com.

What are the future plans for Swvl?

Swvl plans to continue its strategic expansions, focusing on high-priority and profitable markets to sustain its growth trajectory.

Swvl Holdings Corp

Nasdaq:SWVL

SWVL Rankings

SWVL Stock Data

28.45M
9.14M
46.15%
1.46%
3.28%
Software - Application
Technology
Link
United States of America
Dubai