{"id":550412,"date":"2022-10-26T04:12:07","date_gmt":"2022-10-26T04:12:07","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/26\/another-electric-train-project-swvl-says-anticipated-turn-to-black-will-save-it-from-nasdaq-delisting\/"},"modified":"2022-10-26T04:12:07","modified_gmt":"2022-10-26T04:12:07","slug":"another-electric-train-project-swvl-says-anticipated-turn-to-black-will-save-it-from-nasdaq-delisting","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/26\/another-electric-train-project-swvl-says-anticipated-turn-to-black-will-save-it-from-nasdaq-delisting\/","title":{"rendered":"Another electric train project + Swvl says anticipated turn to black will save it from Nasdaq delisting"},"content":{"rendered":"<p><a class=\"content-anchor\" id=\"tldr-story-07\"><\/a> <strong>PPP electric train to connect ports: <\/strong>The <a href=\"http:\/\/www.nat.gov.eg\/\">National Authority for Tunnels<\/a>, <a href=\"https:\/\/eldidigroup.com\/\">El Didi Group<\/a> and <a href=\"https:\/\/gama.com.eg\/\">Gama Construction<\/a> signed an MoU for an electric train project under a public-private partnership framework at the state\u2019s economic conference, <a href=\"https:\/\/www.facebook.com\/EgyptianCabinet\/posts\/pfbid02GTKkBVEbudrrrXyhy2MAeXXd2ufGEuFL8aSiKMdi5HZy8FDuNRiv5WfcHHcNsWk9l\">cabinet said<\/a> on Monday. The agreement will see the establishment of a joint venture to build, operate, maintain, and manage a 250 km cargo-and-passengers railway project connecting key ports in the country. We have the full story in this morning\u2019s <a href=\"https:\/\/enterprise.news\/climate\/en\/news\/story\/8e508f83-608d-4714-adbd-7ebd3c906e9a\">Enterprise Climate<\/a>.<\/p>\n<p><strong>Swvl is confident it can turn things around and avoid delisting from Nasdaq: <\/strong>The Cairo-born ride-hailing startup is positive it will turn profitable next year, <a href=\"https:\/\/www.asharqbusiness.com\/article\/43306\">Bloomberg Asharq<\/a> quotes CEO Mostafa Kandil as saying. Getting the company\u2019s balance sheet in the black will reassure investors and have a positive impact on the company\u2019s share price, helping it to avoid a threatened delisting on the Nasdaq, Kandil suggested, adding that Swvl is already turning a profit in 70% of its operating markets.<\/p>\n<p><strong>REFRESHER-<\/strong> Swvl had previously planned to turn to the black by 2024, but has <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/e504eb63-85c9-42c0-941a-8c2f7a4f1ac0\">moved up its timeline to next year<\/a> as it looks to ride out global headwinds. The ride-hailing startup has consistently traded below USD 1.00 per share since 20 September. According to Nasdaq delisting rules, the index sends a deficiency notice to any company whose share price remains below USD 1.00 for 30 consecutive business days. The listed firm then has 180 calendar days to get its share price back up or face delisting. <a href=\"https:\/\/enterprise.news\/egypt\/en\/news\/story\/17f04346-eb07-4f3e-b8c1-2dc6c5f16502\">By our count<\/a>, Swvl is set to receive a deficiency notice next Monday, 31 October.<\/p>\n<p><strong>Other things we\u2019re keeping an eye on this morning:<\/strong><\/p>\n<ul>\n<li><strong>EFG Hermes<\/strong> has become the first financial institution in Egypt to be granted ISO 31000:2018 Enterprise Risk Management certification by the British Standards Institution. (<a href=\"https:\/\/ent.news\/2022\/10\/EFG-Hermes-ISO-31000-2018-Certification-.pdf\">Statement, pdf<\/a>)<\/li>\n<li><strong>Ten people were killed<\/strong> and at least 9 injured when <strong>a truck and a minibu<\/strong><strong>s <\/strong><strong>collided<\/strong> in Dakahlia. (<a href=\"https:\/\/bit.ly\/3sqcO6z\">Youm7<\/a> | <a href=\"https:\/\/abcnews.go.com\/International\/wireStory\/egypt-10-killed-truck-minibus-collision-nile-delta-92052470\">Associated Press<\/a>)<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>PPP electric train to connect ports: The National Authority for Tunnels, El Didi Group and Gama Construction signed an MoU for an electric train project under a public-private partnership framework at the state\u2019s economic conference, cabinet said on Monday. The agreement will see the establishment of a joint venture to build, operate, maintain, and manage [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7209],"tags":[111,204,84,1775,72,120,507,207,208],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-550412","post","type-post","status-publish","format-standard","hentry","category-also-on-our-radar","tag-also-on-our-radar","tag-banking","tag-efg-hermes","tag-electric-trains","tag-enterpriseam","tag-nasdaq","tag-swvl","tag-transport","tag-transport-ministry","wpautop","entry"],"acf":{"mongo_id":"f67163ca-dac3-4f5f-bd51-4f86898968bc","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[550395],"teaser":"","voice_url":""},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Another electric train project + Swvl says anticipated turn to black will save it from Nasdaq delisting - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/10\/26\/another-electric-train-project-swvl-says-anticipated-turn-to-black-will-save-it-from-nasdaq-delisting\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Another electric train project + Swvl says anticipated turn to black will save it from Nasdaq delisting\" \/>\n<meta property=\"og:description\" content=\"PPP electric train to connect ports: The National Authority for Tunnels, El Didi Group and Gama Construction signed an MoU for an electric train project under a public-private partnership framework at the state\u2019s economic conference, cabinet said on Monday. 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The two sides agreed to terminate the USD 65 mn acquisition in December and\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2023\/1\/476.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":656074,"url":"https:\/\/enterpriseam.com\/egypt\/2024\/11\/28\/swvl-secures-sustainable-credit-facility-from-hsbc\/","url_meta":{"origin":550412,"position":3},"title":"Swvl secures sustainable credit facility from HSBC","author":"enterpriseam admin","date":"28 November 2024","format":false,"excerpt":"HSBC will manage Swvl\u2019s banking operations across multiple markets","rel":"","context":"In &quot;DEBT WATCH&quot;","block_context":{"text":"DEBT WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/debt-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2024\/11\/2642.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":577031,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/11\/07\/exile-on-wall-street\/","url_meta":{"origin":550412,"position":4},"title":"Exile on Wall Street?","author":"enterpriseam admin","date":"7 November 2022","format":false,"excerpt":"Swvl gets a first warning from Nasdaq over its low share price: Cairo-born ride-hailing startup Swvl has received a notice from the Nasdaq saying that it has 180 days to raise its share price or run the risk of being delisted from the US exchange, the company said in a\u2026","rel":"","context":"In &quot;Startup watch&quot;","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/11\/112.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":550229,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/10\/19\/swvl-could-get-booted-off-the-nasdaq-oih-joins-the-egx-buyback-club\/","url_meta":{"origin":550412,"position":5},"title":"Swvl could get booted off the Nasdaq + OIH joins the EGX buyback club","author":"enterpriseam admin","date":"19 October 2022","format":false,"excerpt":"US- and locally-listed firms are steering their stock through choppy waters: Over on Wall Street, Cairo-born Swvl is reportedly considering combining (through a reverse stock split) or canceling some of its shares as it looks to avoid delisting due to low trading price. Closer to home, Orascom Investment Holding is\u2026","rel":"","context":"In &quot;Capital markets&quot;","block_context":{"text":"Capital markets","link":"https:\/\/enterpriseam.com\/egypt\/category\/industries\/capital-markets\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550412","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=550412"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/550412\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/550395"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=550412"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=550412"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=550412"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=550412"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=550412"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}