ANGH
huge merger deal closes as per 6k filing
As per the deal, 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 transaction is expected to result in a company with more than 120 million registered users, 2.5 million paid subscribers, and revenue close to $100 million at closing.
The combined company now possesses OSN+'s premium and exclusive library of 18,000 hours of video content with Anghami's catalog of over 100 million songs and podcasts.
