Spotify Rival’s Nasdaq Listing May Herald Mideast SPAC Boom: Report

Vistas Media Acquisition

Spotify Technology rival Anghami’s listing via a merger with a blank-check company has triggered a flurry of interest from Middle-Eastern firms exploring similar deals in a region where they are a rarity, Bloomberg reports.

Anghami had announced plans to merge with Vistas Media Acquisition in March. Since then, Vistas says it has got “an overwhelming response” from venture capital, private equity firms and entrepreneurs to explore opportunities.

“We strongly believe there are many similar hidden gems, like Anghami, in the region that can be considered not only by our future SPACs but even other SPAC teams for a successful business combination,” Saurabh Gupta, Vistas co-founder and board member, said in an interview. Read more.

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