{"id":563981,"date":"2021-08-01T13:50:27","date_gmt":"2021-08-01T13:50:27","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/zain-to-invest-usd-10-mn-in-swvl-listing\/"},"modified":"2021-08-01T13:50:27","modified_gmt":"2021-08-01T13:50:27","slug":"zain-to-invest-usd-10-mn-in-swvl-listing","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2021\/08\/01\/zain-to-invest-usd-10-mn-in-swvl-listing\/","title":{"rendered":"Zain to invest USD 10 mn in Swvl listing"},"content":{"rendered":"

<\/a> Kuwaiti telecoms provider Zain will invest USD 10 mn in Swvl\u2019s newly <\/strong>announced merger with US-based SPAC Queen\u2019s Gambit, <\/strong>ahead of the ride-sharing app\u2019s highly anticipated debut on the Nasdaq, according to a company statement (pdf)<\/a> to the Kuwaiti bourse. Queen\u2019s Gambit Growth Capital, which bills itself as \u201c100% female-led,\u201d had reportedly raised some USD 300 mn from a group of unnamed investors earlier this year and brought on an additional USD 45 mn in investment through the underwriters\u2019 over-allotment option, valuing Swvl at USD 1.5 bn. It is not clear from Zain\u2019s sparsely-worded statement whether this USD 10 mn investment is part of that fund raising round or part of another USD 100 mn private investment in public equity (PIPE) that is reportedly in the works and theWall Street Journal says<\/a> will include Agility, Luxor Capital Group LP and Zain Group.<\/p>\n

Advisers:<\/strong> Law firm Ibrachy & Dermarkar\u00a0was Swvl\u2019s legal adviser on the merger, while Vinson & Elkins and Shahid Law Firm acted as legal advisers for Queen\u2019s Gambit.<\/p>\n

Correction (2 August 2021):<\/em> A previous version of this story incorrectly said that Shahid Law Firm acted as Swvl's legal advisor on the merger.<\/p>\n","protected":false},"excerpt":{"rendered":"

Kuwaiti telecoms provider Zain will invest USD 10 mn in Swvl\u2019s newly announced merger with US-based SPAC Queen\u2019s Gambit, ahead of the ride-sharing app\u2019s highly anticipated debut on the Nasdaq, according to a company statement (pdf) to the Kuwaiti bourse. Queen\u2019s Gambit Growth Capital, which bills itself as \u201c100% female-led,\u201d had reportedly raised some USD […]<\/p>\n","protected":false},"author":1,"featured_media":563982,"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":[7224],"tags":[817,633,78,816,7128,439,507],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-563981","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-watch","tag-agility-logistics","tag-enterprisepm","tag-ipo-watch","tag-luxor-capital","tag-ma-watch","tag-spacs","tag-swvl","wpautop","entry"],"acf":{"mongo_id":"c27d80cf-adda-4cb1-9ce5-5ff433e7de43","is_powered_by":true,"story_type":"1","photo_url":"https:\/\/ent.news\/2021\/8\/331.jpg","photo_position":"above","related_issue":[563974],"teaser":"","voice_url":""},"yoast_head":"\nZain to invest USD 10 mn in Swvl listing - 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\/2021\/08\/01\/zain-to-invest-usd-10-mn-in-swvl-listing\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Zain to invest USD 10 mn in Swvl listing\" \/>\n<meta property=\"og:description\" content=\"Kuwaiti telecoms provider Zain will invest USD 10 mn in Swvl\u2019s newly announced merger with US-based SPAC Queen\u2019s Gambit, ahead of the ride-sharing app\u2019s highly anticipated debut on the Nasdaq, according to a company statement (pdf) to the Kuwaiti bourse. 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The European Bank for Reconstruction and Development (EBRD) and Teklas Ventures,\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":544659,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/15\/swvl-expects-us-regulators-to-greenlight-its-nasdaq-ipo-today\/","url_meta":{"origin":563981,"position":3},"title":"Swvl expects US regulators to greenlight its Nasdaq IPO today","author":"enterpriseam admin","date":"15 March 2022","format":false,"excerpt":"Mass transportation startup Swvl expects to receive final approvals on its IPO from the US\u2019 Securities and Exchange Commission (SEC) today, CFO Youssef Salem told Enterprise. 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