Media Coverage

Eddy Maroun, Anghami CEO, discusses the company’s Nasdaq listing. He speaks with Yousef Gamal El-Din and Manus Cranny on “Bloomberg Daybreak: Middle East.” (Source: Bloomberg)

DUBAI (Reuters) – Anghami, which operates a music streaming app popular in the Middle East and North Africa, said on Wednesday it will become the first Arab tech company to list on the Nasdaq after agreeing to merge with a special purpose acquisition company (SPAC).

In a milestone moment for the MENA entrepreneurial ecosystem, Anghami, one of the region’s leading music streaming platforms and services, has entered into a merger agreement with Vistas Media Acquisition Company Inc., a publicly traded special purpose acquisition company in the United States, that will result in it becoming the first Arab technology company to be listed on the NASDAQ New York stock exchange.

When Eddy Maroun was skiing in a Lebanese mountain resort back in 2011, accessing music was a cumbersome affair. Music players like the iPod were already rife, but they required users to first download songs and install them onto the music player or convert them from CD to MP3 files.

The agreement will result in Anghami becoming the first Arab technology company to list on Nasdaq New York

The Abu Dhabi company listed on the Nasdaq this week and has $140M in new funding.

The Abu Dhabi-headquartered firm will list on NASDAQ via a merger with Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly traded special purpose acquisition company (SPAC).

Anghami will become the first Arab technology company to list on NASDAQ New York via a merger with Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly traded special purpose acquisition company that raised $100 million in its August 2020 initial public offering.

Anghami will become the first Arab technology company to list on NASDAQ New York via a merger with Vistas Media Acquisition Company Inc. (NASDAQ: VMAC), a publicly traded special purpose acquisition company that raised $100 million in its August 2020 initial public offering.

Anghami, the Abu Dhabi-based music-streaming service that claims over 70 million users, said it’s listing on the Nasdaq stock exchange in New York by merging with a blank-check company, setting the stage for one of the biggest investments into a Middle Eastern technology startup in years.

Prominent Middle Eastern Spotify rival Anghami has entered into a definitive merger agreement with publicly traded special purpose acquisition company (SPAC) Vistas Media Acquisition Company Inc.

Abu Dhabi headquartered music streaming platform Anghami is to hit the charts on Nasdaq – making it the first tech company of Middle East origin to list on the New York exchange.

Anghami, the music streaming rival of Spotify in the Arab world, is set to become the first technology firm from the region to list on the Nasdaq in New York, following a merger with a blank-cheque company.

A BLANK-CHEQUE company backed by Singapore-based Vistas Media has agreed to merge with music-streaming service Anghami in a deal that could value the Middle Eastern startup at over US$200 million.

Arabic music streaming service Anghami is set to become the first technology company from the region to list on New York’s Nasdaq stock exchange as part of a merger deal valuing the platform at up to $230 million.

Vistas Media  Acquisition Company Inc. (NASDAQ:VMACU) (“VMAC” or the “Company”) announced the pricing yesterday of its initial public offering (“IPO”) of 10,000,000 units at a price to the public of $10.00 per unit.

Vistas Media Acquisition, a blank check company targeting the media and entertainment industry, filed on Friday with the SEC to raise up to $100 million in an initial public offering.

Blank check company targeting the media and entertainment industry