Swvl, a green-focused mass transit company, is going public via an all-female SPAC

Dubai-based transportation company Swvl is going public through a merger with Queen's Gambit Growth Capital.

Dubai-based mobility company Swvl said Wednesday that it plans to go public through a reverse merger with Queen's Gambit Growth Capital. The special purpose acquisition company is led entirely by women. The deal with Queen's Gambit values Swvl's equity at around $1.5 billion, making it the largest Middle East-based unicorn to debut on the Nasdaq. An expected closing date for the merger was not given, but once complete the company will trade under the ticker SWVL. Reverser mergers involve private companies going public by buying a controlling share of a public firm.

Grace said in a statement that she was looking to identify and grow a "disruptive platform that solves complex challenges and empowers underserved populations," noting that in Swvl she found "each of those things and more."

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Big Oil Companies Push Hydrogen as Green Alternative, but Obstacles RemainBP, Shell and TotalEnergies are all pursuing multimillion-dollar hydrogen projects, often with government support, as they seek to redefine their future role in a world less reliant on fossil fuels. Se inicia ahora sí el fin de los combustibles fósiles!! Hidrógeno parece ser el camino. Ya ToyotaLatino había decidido apostar al hidrogeno! rudolf_hommes JCecheverryCol velascoluisf Hydrogen fuel cell vehicle will be the next big thing. Put your money on it My knight in shining armor cometh to rescue me...
Source: WSJ - 🏆 98. / 63 Read more »