Vistas Media Acquisition Company Inc (VMAC) and Anghami Inc will be jointly setting camp at NASDAQ under their new symbol as ‘ANGH’.
Anghami is the leading music streaming platform and service in the Middle East, while Vistas Media Capital is a media content and technology SPAC headquartered in Singapore.
The founders of Vistas Media Capital have also announced the joint venture record label “Vibe Music Arabia” between Sony Music Entertainment Middle East (SME) and Anghami. Together, they will groove to Vibe Music Arabia, which will act as a creative hub to empower musicians and content creators.
Why it matters
A Middle East IPO will only accelerate the startup ecosystem in the region, inspiring entrepreneurs and investors alike that Silicon Valley-like exits do exist.