Swvl Holdings Corp. (NASDAQ:SWVL) said Tuesday it secured a $13 million private investment led by Coefficient LP, a Sawiris family-backed investment firm. Following the announcement, the stock jumped nearly 50%.
Coefficient Becomes Major Shareholder
Coefficient will invest $10 million and become the company’s largest institutional shareholder after the deal closes. An existing investor will provide the remaining $3 million.
Swvl will issue about 8.99 million Class A shares at $1.446 each. The transaction is expected to close Aug. 27, subject to customary conditions.
Coefficient founder and managing partner Abdalla Ali will also join the board.
