Anghami and OSN+ Create Entertainment Powerhouse with Successful Completion of Milestone Transaction

DENVER, Colo., Apr 02, 2024 (247marketnews.com)- Anghami Inc. (NASDAQ:ANGH) and OSN+ stated, this morning, that OSN Group acquired 55.45% of Anghami’s shares, giving it a majority stake at a valuation of $3.69 per share, 1.9x of Thursday’s closing price.

The deal will result in a company that combines OSN+’s18,000 hours of video content and Anghami’s catalog of more than 100 million songs and podcasts, as well as Anghami’s tech stack, to over 120 million registered users, circa 2.5 million paid subscribers and close to $100 million in revenue at closing.

About 24/7 Market News
As a pioneer in digital financial market media, 24/7 Market News (24/7MN) is dedicated to the swift distribution of financial market news and information. 24/7 MN incorporates comprehensive corporate communications resources and tools to engage the investment community. Visit 24/7 Market News website here.

24/7 MARKET NEWS, INC Disclaimer
Please go to https://www.247marketnews.com/disclaimer/ for disclaimer information.

CONTACT:
24/7 Market News
[email protected]

Related news for (NASDAQ:ANGH)

    NASDAQ and NYSE quotes and data are delayed 15 minutes unless indicated otherwise. Market data and exchange information are provided for informational purposes only and is not intended for trading purposes. Neither 24/7 Market News Editors, 247 Market News, or data and content providers shall be liable for any errors or omissions, delays, misquotes or other market information relayed in any press materials. You should Use Realtime data to conduct due diligence before investing or trading, and trading in any stock is risky you could lose all your money.