Bolt moves micromobility business to one-cent-capital subsidiary

Bolt has transferred its micromobility business to a separate subsidiary with share capital of one cent, ERR reports.

The company, Diamond Mobility Operations OÜ, was registered on September 4 this year. Bolt’s scooters and bicycles look the same as before, but the business is now legally held by the subsidiary.

Mihkel Tamm, Bolt’s head of public relations for the Baltics, told ERR that a separate unit would allow the company to make management and business decisions more quickly and independently in the rapidly developing micromobility sector.

Tamm said the change was an internal reorganisation that would not affect the business’s operations or management, or change customers’ experience.

Diamond Mobility Operations is owned by Bolt Holdings OÜ. Its ultimate beneficial owner is Markus Villig.