Anghami and OSN+ Successfully Complete Milestone Transaction, Creating an Entertainment Powerhouse
Anghami Inc. (ANGH)
Company Research
Source: PR Newswire
The transaction has received all required regulatory approvals for successful closure OSN Group's investment in Anghami gives it a majority stake at a valuation of $3.69 per shareABU DHABI, UAE, April 2, 2024 /PRNewswire/ -- Anghami Inc. (NASDAQ: ANGH) ("Anghami"), a leading music and entertainment streaming platform, and OSN+, a leading video streaming platform for premium content, today announced the successful completion of their landmark transaction after receiving all regulatory approvals.OSN Group has acquired 55.45% in Anghami, giving it a majority stake at a valuation of $3.69 per share, 1.9x the closing price of the stock on Thursday 28th of March. This deal will result in a company with over 120 million registered users, circa 2.5 million paid subscribers and close to $100 million in revenue at closing.The combined entity brings together OSN+'s premium and exclusive library of 18,000 hours of video content with Anghami's rich catalog of more than 100 million songs and podcas
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ANGH
News
- Anghami - All the Music for Free for iOS [CNET News]CNET News
- Anghami Files 2023 Annual Report and Announces 2024 Q1 Results, Highlighting 18% Growth in Subscribers and Significant Margin Improvement [Yahoo! Finance]Yahoo! Finance
- Anghami Files 2023 Annual Report and Announces 2024 Q1 Results, Highlighting 18% Growth in Subscribers and Significant Margin ImprovementBusiness Wire
- We're Hopeful That Anghami (NASDAQ:ANGH) Will Use Its Cash Wisely [Yahoo! Finance]Yahoo! Finance
- Anghami Reports Full Year 2023 Earnings [Yahoo! Finance]Yahoo! Finance
ANGH
Sec Filings
- 4/29/24 - Form 6-K
- 4/29/24 - Form 20-F
- 4/8/24 - Form SC
- ANGH's page on the SEC website