Dubai-based Swvl begins trading on Nasdaq

Swvl, a Cairo-born, Dubai-based provider of mass transit and shared mobility services valued at $1.5 billion, began trading on the Nasdaq in the United States on Thursday.

Swvl co-founder and CEO Mostafa Kandil marked the occasion by ringing the opening bell at the Nasdaq MarketSite in New York City's Times Square.Trading began at 9.30 a.m. EST, with shares beginning at $9.95 per share. At 3:10 p.m. EST, they were trading at $9.33. The listing comes after a shareholder meeting on Wednesday approved a merger with special purpose acquisition company (Spac) Queen's Gambit Growth Capital, the first blank-cheque company led entirely by women. The merger was announced in July of last year.

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