By Chris Wack
Swvl Holdings shares were up after the company said it has entered into a definitive agreement with certain investors to buy $4.7 million in shares in a private placement.
The technology company's stock gained 19%, to $5.69, in midday trading Monday. Shares are up more than 500% in the past 12 months.
Swvl said the purchase price is $4.79 a share, its closing price Friday.
The purchasers, which include several members of its board of directors, have agreed to lock up the securities purchased in the offering for a period of six months.
The private placement is expected to close on or about Monday.
The Dubai company intends to use the proceeds for working capital and general corporate purposes, including the expansion of its operations in the U.S.
Write to Chris Wack at chris.wack@wsj.com
(END) Dow Jones Newswires
November 18, 2024 13:49 ET (18:49 GMT)
Copyright (c) 2024 Dow Jones & Company, Inc.
免责声明：投资有风险，本文并非投资建议，以上内容不应被视为任何金融产品的购买或出售要约、建议或邀请，作者或其他用户的任何相关讨论、评论或帖子也不应被视为此类内容。本文仅供一般参考，不考虑您的个人投资目标、财务状况或需求。TTM对信息的准确性和完整性不承担任何责任或保证，投资者应自行研究并在投资前寻求专业建议。