Spotify rival Anghami skyrockets over 80% in Nasdaq debut

February 4, 2022 9:41 AM EST

(Reuters) - Shares of Anghami Inc soared more than 80% in their Nasdaq debut on Friday following the Middle East and Northern Africa-focused music streaming platform's $220 million merger with blank-check firm Vistas Media Acquisition Company

The first Arab tech company to list on Nasdaq, Abu Dhabi-headquartered Anghami has more than 70 million registered users and partnerships with Universal Music Group, Sony Music and Warner Music Group.

(Reporting by Mehnaz Yasmin in Bengaluru; Editing by Ramakrishnan M.)

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