Anghami Receives $3.39 Per Share Acquisition Proposal from OSN
Written by Emily J. Thompson, Senior Investment Analyst
Updated: 4 days ago
0mins
Anghami confirmed receipt of a preliminary, non-binding proposal from OSN Streaming, the Company's controlling shareholder, to acquire all of the outstanding ordinary shares of the Company not already owned by OSN in a going-private transaction. OSN's proposed purchase price is $3.39 in cash per Ordinary Share. OSN currently owns approximately 67% of the Company's issued and outstanding Ordinary Shares. OSN has indicated that it expects to fund the acquisition with equity or other financing from its shareholders and their affiliates, and that the acquisition will not be subject to a financing condition. A copy of the proposal letter from OSN is available as an exhibit to OSN's statement of beneficial ownership on Schedule 13D/A as publicly filed with the SEC. In connection with receipt of the Proposal, the Board of Directors of the Company has appointed three new directors: Nathan Scott Fine, Guergui Saykov Stoyanov and Chiara Marcati. The Board has determined that each of the foregoing directors is independent under the listing standards of The Nasdaq Stock Market, has no material relationship with OSN or interest in the Proposal, and is not an employee, affiliate or nominee of OSN. Fine is an ex-officio Director and Vice Chairman of Rafael Holdings. Stoyanov is the Founder and CEO of StoGeo, a global advisory firm focused on business strategy and next-generation leadership, a position he has held since 2008. Marcati serves as Chief Advisory and Business Officer at AI71, a UAE-headquartered company building agentic, sovereign-grade AI platforms, where she leads strategy, ecosystem partnerships, and public-sector advisory. In response to the Proposal, the Board has formed a special committee composed solely of the three newly appointed independent and disinterested directors, Nathan Scott Fine, Guergui Saykov Stoyanov and Chiara Marcati, to review, evaluate and negotiate the Proposal and any potential strategic alternatives, and to determine the course of action that is in the best interests of the Company and its shareholders that are not affiliated with OSN. The Special Committee has been authorized to exercise all lawfully delegable powers of the Board in connection with the Proposal, including the authority to retain independent legal and financial advisors to assist it in its review and deliberations. The Special Committee has full authority to evaluate, negotiate and, if it determines appropriate, to reject the Proposal. The Company will not approve or enter any transaction with OSN without the Special Committee's prior favorable recommendation. Any such transaction would also remain subject to final approval of the Board and to any required approval of the Company's shareholders. The Special Committee is under no obligation to recommend or approve any transaction, and the Company may continue as a publicly listed company.
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About ANGH
Alamani Inc is a United Arab Emirates-based digital entertainment Company. The Company provides music streaming, podcast streaming, video content delivery, and related online media services across the Middle East and North Africa. The Company offers a catalog of approximately 100 million Arabic and international songs, podcast programming, video clips, and live events, supported by artificial intelligence and machine‑learning systems. It distributes its services through free ad-supported access and premium subscription plans. The Company engages with regional and global music labels, telecom operators, advertisers, and artists to provide content licensing, data-driven advertising solutions, artist analytics, and promotional tools, while also operating live concerts and entertainment venues that complement its digital platform and broaden audience engagement.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
Anghami Confirms OSN Acquisition Proposal
- Acquisition Proposal Confirmation: Anghami has received a preliminary non-binding acquisition proposal from OSN Streaming to purchase outstanding ordinary shares at $3.39 per share, with OSN currently owning approximately 67% of shares, which could lead to a privatization that may alter the company's market positioning and shareholder structure.
- Board Appointments: In response to the acquisition proposal, Anghami's Board has appointed three independent directors to ensure an unbiased evaluation process, with all new appointees having no ties to OSN, thereby enhancing the Board's decision-making capabilities with their extensive industry experience.
- Special Committee Formation: The Board has established a Special Committee composed of the newly appointed independent directors to review and negotiate the acquisition proposal, with the authority to retain independent legal and financial advisors, ensuring transparency and professionalism in the evaluation process, which could significantly impact the final transaction outcome.
- Future Uncertainty: Despite the acquisition proposal, there is no guarantee that it will be accepted, as the Special Committee has the authority to reject it, and the company may continue as a publicly listed entity, reflecting a commitment to shareholder interests and a flexible response to market dynamics.
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- Subscriber Base Expansion: Paid subscribers exceeded 3.5 million, indicating the company's success in attracting and retaining users, thereby enhancing the diversity and stability of its revenue streams.
- User Registration Surge: Registered users surpassed 130 million, showcasing Anghami's success in user acquisition and market penetration, which signals strong future growth potential.
- Enhanced Market Competitiveness: With the increase in both user numbers and revenue, Anghami's competitiveness in the streaming industry has significantly improved, laying a solid foundation for future expansion and innovation.
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- Significant Revenue Growth: Anghami's revenue reached $99.3 million in 2025, a 27% increase from $78.1 million in 2024, demonstrating strong momentum in market expansion and user growth across the MENA region.
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- Significant Revenue Growth: Anghami's revenue reached $99.3 million in 2025, a 27% increase from $78.1 million in 2024, primarily driven by subscriber growth across OSN+ and Anghami Plus, along with the first full-year consolidation of OSN+.
- User Base Expansion: Paid subscribers exceeded 3.5 million, and registered users surpassed 130 million, indicating strong market demand and user attraction in the MENA region, further solidifying Anghami's market leadership.
- Deepened Strategic Partnerships: The $57 million investment from Warner Bros. Discovery and collaborations with Noon and talabat enhanced content partnerships and user acquisition channels, driving improved activation and conversion rates.
- Ongoing Technology Investment: In 2025, Anghami continued to invest in proprietary technology, completing the in-house rebuild of the OSN+ platform, which improved performance and user experience, expected to provide robust support for future growth.
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Anghami Confirms OSN Acquisition Proposal
- Acquisition Proposal Confirmation: Anghami has received a preliminary non-binding acquisition proposal from OSN Streaming to purchase outstanding ordinary shares at $3.39 per share, with OSN currently owning approximately 67% of shares, which could lead to a privatization that may alter the company's market positioning and shareholder structure.
- Board Appointments: In response to the acquisition proposal, Anghami's Board has appointed three independent directors to ensure an unbiased evaluation process, with all new appointees having no ties to OSN, thereby enhancing the Board's decision-making capabilities with their extensive industry experience.
- Special Committee Formation: The Board has established a Special Committee composed of the newly appointed independent directors to review and negotiate the acquisition proposal, with the authority to retain independent legal and financial advisors, ensuring transparency and professionalism in the evaluation process, which could significantly impact the final transaction outcome.
- Future Uncertainty: Despite the acquisition proposal, there is no guarantee that it will be accepted, as the Special Committee has the authority to reject it, and the company may continue as a publicly listed entity, reflecting a commitment to shareholder interests and a flexible response to market dynamics.
See More
Anghami Reports 27.1% Revenue Growth in FY
- Significant Revenue Growth: Anghami's FY revenue reached $99.3 million, reflecting a robust 27.1% year-over-year increase, which underscores the company's strong performance in the music streaming market and solidifies its market position.
- Subscriber Base Expansion: Paid subscribers exceeded 3.5 million, indicating the company's success in attracting and retaining users, thereby enhancing the diversity and stability of its revenue streams.
- User Registration Surge: Registered users surpassed 130 million, showcasing Anghami's success in user acquisition and market penetration, which signals strong future growth potential.
- Enhanced Market Competitiveness: With the increase in both user numbers and revenue, Anghami's competitiveness in the streaming industry has significantly improved, laying a solid foundation for future expansion and innovation.
See More
Anghami Reports 27% Revenue Growth in 2025 Financial Results
- Significant Revenue Growth: Anghami's revenue reached $99.3 million in 2025, a 27% increase from $78.1 million in 2024, demonstrating strong momentum in market expansion and user growth across the MENA region.
- User Base Expansion: The platform surpassed 3.5 million paying subscribers and over 130 million registered users, indicating successful user acquisition and increased market share amid rising demand for digital entertainment.
- Deepened Strategic Partnerships: Collaborations with platforms like talabat and Noon enhanced content distribution capabilities, while the launch of the Epic Bundle integrated Shahid and Disney+ for the first time, broadening content access and solidifying market position.
- Ongoing Technology Investment: Continued investment in AI-driven content recommendations and the in-house rebuild of the OSN+ platform improved user experience, expected to drive future user growth and revenue increases, enhancing competitive advantage in the streaming market.
See More
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- Significant Revenue Growth: Anghami's revenue reached $99.3 million in 2025, a 27% increase from $78.1 million in 2024, primarily driven by subscriber growth across OSN+ and Anghami Plus, along with the first full-year consolidation of OSN+.
- User Base Expansion: Paid subscribers exceeded 3.5 million, and registered users surpassed 130 million, indicating strong market demand and user attraction in the MENA region, further solidifying Anghami's market leadership.
- Deepened Strategic Partnerships: The $57 million investment from Warner Bros. Discovery and collaborations with Noon and talabat enhanced content partnerships and user acquisition channels, driving improved activation and conversion rates.
- Ongoing Technology Investment: In 2025, Anghami continued to invest in proprietary technology, completing the in-house rebuild of the OSN+ platform, which improved performance and user experience, expected to provide robust support for future growth.
See More
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- Jobless Claims Decrease: Initial jobless claims in the U.S. dropped by 16,000 to 199,000 for the week ending December 27, compared to market estimates of 220,000, reflecting a robust labor market that may positively impact economic recovery.
- Market Volatility: The Dow Jones index fell over 100 points on Wednesday, down 0.28%, indicating cautious market sentiment in response to economic data, although the relatively small declines in real estate and utilities sectors suggest some investor confidence remains in certain industries.
- International Market Dynamics: Asian markets closed mixed, with Hong Kong's Hang Seng Index down 0.87% while China's Shanghai Composite gained 0.09%, reflecting the impact of global economic uncertainties on market sentiment, which may lead investors to adopt more conservative strategies in the future.
See More
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- Partnership Announcement: Intelligent Bio Solutions has entered into a manufacturing partnership with PREMIUM, aimed at enhancing production capabilities and market responsiveness, thereby expanding its influence in the biotechnology sector.
- Market Potential: This collaboration will enable Intelligent Bio Solutions to leverage PREMIUM's advanced manufacturing technologies, which is expected to significantly improve product quality and production efficiency, strengthening its position in a competitive market.
- Strategic Implications: By partnering with PREMIUM, Intelligent Bio Solutions can not only optimize its supply chain management but also accelerate time-to-market for new products, addressing the growing market demand effectively.
- Future Outlook: The establishment of this partnership signifies Intelligent Bio Solutions' ongoing expansion in the biotechnology industry, which is anticipated to generate new revenue streams and long-term growth opportunities for the company.
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