Swvl Receives Nasdaq Non-Compliance Notice
DUBAI, United Arab Emirates, Jan. 16, 2023 (GLOBE NEWSWIRE) — Swvl Holdings Corp (“Swvl” or the “Company”) (Nasdaq: SWVL), a global provider of transformative tech-enabled mass transit solutions, today announced that on January 11, 2023, it received written notice (the “Notice”) from The Nasdaq Stock Market (“Nasdaq”) advising the Company that it was not in compliance with Listing Rule 5450(b)(2)(A) requiring companies listed on the Nasdaq Global Market to maintain a minimum market value of listed securities of $50,000,000 (the “MVLS Requirement”). The Notice has no effect at this time on the listing of the Company’s ordinary shares, which continues to trade on The Nasdaq Global Market under the symbol “SWVL.”