Swvl intends to direct foreign offering's proceeds to continue its expansion plan

CAIRO - 31 March 2022: Swvl company aims to direct the proceeds of the foreign offering to continue its expansion plan, according to the head of the government relations sector at Swvl, Sherif Fouda.

 

During his speech at the press conference held by the Egyptian Stock Exchange (EGX), Thursday, to celebrate the start of trading on the company's shares on the Nasdaq Stock Exchange, he added that the company is present in 115 cities in about 21 countries.

 

He pointed out that Swvl intends to continue its foreign expansions, targeting the markets of South America, Europe and Southeast Asia.

 

Fouda pointed out that Swvl had completed about 3 deals in Germany, Spain and Argentina during the last period, and is looking at more opportunities in the coming period.

 

He explained that the Egyptian market represents the largest part of the company's volume of transactions.