OSN Group Announces Up To $50M Cash Investment In Anghami, Will Invest In Anghami At A Valuation Of $3.65 Per Share; Following Closing Of Transaction, OSN Group Will Own A Majority Stake In Anghami
Portfolio Pulse from Benzinga Newsdesk
OSN Group has committed to invest up to $50 million in Anghami, valuing the company at $3.65 per share. Upon completion of the transaction, OSN Group will hold a majority stake in Anghami.
November 21, 2023 | 12:46 pm
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Anghami is set to receive a $50M investment from OSN Group at a valuation of $3.65 per share, which will result in OSN Group owning a majority stake.
The investment of $50 million from OSN Group is a significant financial endorsement for Anghami, likely leading to a positive investor sentiment. The valuation at $3.65 per share could potentially set a new floor for the stock price, assuming the market perceives the investment as a sign of confidence in Anghami's future prospects. The acquisition of a majority stake by OSN Group may also lead to strategic changes that could benefit Anghami's growth and market position.
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