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.
免責聲明：投資有風險，本文並非投資建議，以上內容不應被視為任何金融產品的購買或出售要約、建議或邀請，作者或其他用戶的任何相關討論、評論或帖子也不應被視為此類內容。本文僅供一般參考，不考慮您的個人投資目標、財務狀況或需求。TTM對信息的準確性和完整性不承擔任何責任或保證，投資者應自行研究並在投資前尋求專業建議。