Spotify rival Anghami skyrockets over 80% in Nasdaq debut

Anghami shares soared more than 80% in their Nasdaq debut after its merger with Vistas Media Acquisition Company.

Shares of Anghami Inc soared more than 80% in their Nasdaq debut on Friday following the Middle East and Northern Africa-focused music streaming platform's $220 million merger with blank-check firm Vistas Media Acquisition Company

The first Arab tech company to list on Nasdaq, Abu Dhabi-headquartered Anghami has more than 70 million registered users and partnerships with Universal Music Group, Sony Music and Warner Music Group.