By Alan Hatfield
Shares of Arab music streaming platform Anghami Inc. nearly doubled in their first two trading sessions following the formal close of the SPAC merger that brought the company public.
The company, whose shares closed at $19.50 apiece Monday, is notable for being the first Arab technology company to list on the Nasdaq exchange. Anghami is leading digital music technology platform in the Middle East and North Africa, a region that was plagued by music piracy and has only recently shifted to legitimate sources.
IPO Edge recently published a detailed analysis of the business and investment opportunity, which can be read HERE.