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Arabic Streaming Music Platform Anghami Soared 50% in Morning Trading

Tiger Newspress2022-02-07

Shares of Arabic streaming music platform Anghami , which merged late last week with SPAC Vistas Media Acquisition Corp., soared 50% in early trading Monday.

The streaming music platform, which caters to listeners in the Middle East and North Africa, closed on its business combination with Vistas Media on Thursday.

Shares of the newly merged company began trading on the Nasdaq on Friday, opening at $17.91 before closing at $12.07, up 23% from the previous session. Pre-merger shares of Vistas Media closed at $9.83 on Thursday.

Headquartered in Abu Dhabi, Anghami streams music in English, French and Arabic to over 75 million registered users with approximately 1 billion streams per month. The company has a streaming catalog of more than 75 million songs.

Anghami announced in March 2021 that it was combining with blank-check company Vistas Media in a deal that carried an enterprise value of around $220 million. The transaction was originally slated to close in Q2 2021.

On Jan. 21, shares of Vistas Media rallied following shareholder approval of the merger.

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Comment45

  • 陈河马
    ·2022-02-08
    Wow
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  • Andaroo
    ·2022-02-08
    Amc gme
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  • maxichua
    ·2022-02-08
    K
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  • ramius75
    ·2022-02-08
    🚀🚀🚀
    Reply
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  • aibee
    ·2022-02-08
    [Miser] 
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  • JQ62
    ·2022-02-08
    Like please
    Reply
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  • angskk
    ·2022-02-08
    Like pls
    Reply
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  • Gackky
    ·2022-02-08
    lets hope arab princes can hold the line [Happy] 
    Reply
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  • xiaobaii
    ·2022-02-08
    like & comment please 
    Reply
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  • Big Little
    ·2022-02-08
    I hope this strong interest can be sustained. 
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  • Sorrie2u
    ·2022-02-08
    Wow
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  • kevinlaisq
    ·2022-02-08
    Pls like
    Reply
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  • Pluto891
    ·2022-02-08
    Spotify like? copycat?
    Reply
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  • TSY123
    ·2022-02-08
    Good
    Reply
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  • Joashua
    ·2022-02-08
    Liked
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  • larkygal
    ·2022-02-08
    Kk
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  • 👌
    Reply
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  • koolgal
    ·2022-02-08
    Interesting new stock Anghami is doing well, soaring 50% in morning trading. 🤔
    Reply
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  • fourseas
    ·2022-02-08
    Wow
    Reply
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  • SaraG
    ·2022-02-08
    Ok
    Reply
    Report
 
 
 
 

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