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Share capital | 12 Months Ended
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Dec. 31, 2025
Share capital |
Share capital |
11 | Share capital
a.Reverse share split: In 2023, the Group restructured its authorised shares and issued ordinary shares as detailed below: (a)The number of ordinary shares which the Group is authorised to issue has been decreased to 20,000,000 ordinary shares by the consolidation of every 25 ordinary shares of $0.0001 par value each currently in issue into 1 ordinary share of $0.0025 par value each; and (b)the issued ordinary shares have been combined into a small number of shares, resulting in every 25 issued ordinary share being combined into 1 ordinary share with a par value of $0.0025 each. Following the restructuring, the Group is authorised to issue 20,000,000 ordinary shares and 55,000,000 preference shares. The restructuring was approved on 4 January 2023 and became effective on 25 January 2023. b.Share capital: The below table sets out the Group’s share structure during the year ended 31 December 2025 and 2024: ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ ​ ​ | As of 31 December 2025 |  | As of 31 December 2024
​ | ​ ​ ​ | Authorised | ​ ​ ​ | Issued | ​ ​ ​ | Authorised | ​ ​ ​ | Issued
Class A ordinary shares | ​ ​ ​ | 20,000,000 | ​ | 9,964,344 | ​ | 20,000,000 | ​ ​ ​ | 9,898,516
Preferred shares |  | 55,000,000 | ​ | — | ​ | 55,000,000 |  | —
​ | ​ | 75,000,000 | ​ | 9,964,344 | ​ | 75,000,000 | ​ | 9,898,516
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | As of 31 December 2025 |  | As of 31 December 2024
​ | ​ | Number | ​ | Share | ​ | Number | ​ | Share
​ | ​ ​ ​ | of shares | ​ ​ ​ | capital | ​ ​ ​ | of shares | ​ ​ ​ | capital
Issuance of shares in the normal course of business | ​ | 5,191,300 | ​ | 12,976 | ​ | 5,125,472 | ​ | 12,812
Issuance of shares to Swvl Inc. shareholders |  | 3,411,410 | ​ | 8,529 | ​ | 3,411,410 | ​ | 8,529
Issuance of shares to SPAC shareholders |  | 557,960 | ​ | 1,395 | ​ | 557,960 | ​ | 1,395
Conversion of convertible notes |  | 645,018 | ​ | 1,613 | ​ | 645,018 | ​ | 1,613
Issuance of shares to PIPE investors |  | 158,656 | ​ | 397 | ​ | 158,656 | ​ | 397
​ | ​ | 9,964,344 | ​ | 24,910 | ​ | 9,898,516 | ​ | 24,746
​ c.Share premium: ​
​ | ​ | ​
​ | ​ ​ ​ | As of 31 December 2025
​ | ​ | Share Premium
Issuance of shares to Swvl Inc. shareholders |  | 88,873,188
Conversion of convertible notes |  | 145,952,505
Issuance of share to PIPE investors |  | 39,663,603
Recapitalization costs |  | 121,077,329
Less: |  | ​
Costs attributable to the issuance of shares in connection with the business combination |  | (8,467,766)
Fair value of earnout shares |  | (75,550,455)
​ | ​ | 311,548,404
Issuance of shares in the normal course of business | ​ | 42,630,925
​ |  | 354,179,329
​ ​
11 | Share capital (continued)
​ c.Share premium: (continued) ​
​ | ​ | ​
​ | ​ ​ ​ | As of 31 December 2024
​ | ​ | Share Premium
Issuance of shares to Swvl Inc. shareholders |  | 88,873,188
Conversion of convertible notes |  | 145,952,505
Issuance of share to PIPE investors |  | 39,663,603
Recapitalization costs |  | 121,077,329
Less: |  | ​
Costs attributable to the issuance of shares in connection with the business combination |  | (8,467,766)
Fair value of earnout shares |  | (75,550,455)
​ | ​ | 311,548,404
Issuance of shares in the normal course of business | ​ | 42,335,364
​ |  | 353,883,768
​

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