Swvl Holdings Corp (NASDAQ:SWVL) shares are trading higher today after the company announced the commencement of a strategic review process.
On Friday, Swvl announced the formation of a Strategic Committee to evaluate and explore potential strategic alternatives that may be available to the company.
The Strategic Committee intends to evaluate a full range of options that include:
- A corporate sale, merger, or other business combination
- Selling all or a portion of the company’s assets
- Strategic investments
- New debt or equity financings or other significant transaction
While all strategic alternatives are being considered fairly, Swvl does not have a timetable for the completion of the process or assurance of a transaction. The company plans to continue implementing current cost reduction measures while the Strategic Committee works alongside professional advisors to explore alternative options.
Swvl Holdings Corp is a technology-driven mobility company that aims to provide reliable, safe, cost-effective, and environmentally responsible mass transit solutions.
According to data from Benzinga Pro, Swvl Holdings Corp shares are up 43.6% to $0.20 per share at the time of publication. It has a 52-week high of $11.40 and a 52-week low of $0.0825
