Swvl jumps on buying Turkish transit co Volt Lines

Swvl Holdings

25/04/2022 18:39

** U.S.-listed shares of Dubai-based transport co Swvl
Holdings Corp  SWVL.O  up 19.7% at $7.75 
    ** Co acquires Volt Lines, a Turkish subscription-based
transportation provider for corporate employees, for an
undisclosed sum  urn:newsml:reuters.com:*:nPn63kSfXa
    ** Volt Lines' 110 corporate clients include MetLife,
Mondelez, Pirelli and others
    ** Swvl's latest acquisition is in line with its effort to
expand in Europe and comes after it bought https://reut.rs/3Mt2GSj
 on-demand bus service Shotl in August last year
    ** It also acquired https://prn.to/3rPyCZl mass-transit co
Viapool in November in an effort to expand its operations into
Argentina and Chile 
    ** Swvl agreed to go public through a merger https://www.reuters.com/article/us-swvl-listing-idUSKBN2EY2BU
 with special purpose acquisition co Queen's Gambit Growth
Capital last year
    ** YTD, shares down 18.81%

 (Reporting by Sohini Podder in Bengaluru)
 ((sohini.podder@thomsonreuters.com))