Kuwait Projects Company Sukuk Limited
KIPCO announces a strategic deal between OSN+ and Anghami
Kuwait Projects Company (Holding) K.S.C.P. (the Obligor of Kuwait Projects Company Sukuk Limited), announced that Panther Media Group Ltd known as "OSN" (KIPCO Group's subsidiary) has signed a conditional binding agreement to combine its streaming platform OSN+ with Anghami Inc. (Listed on Nasdaq) and to inject up to USD 50 Mn (equivalent to KD 15.4 Mn) in Anghami Inc. for a majority stake in Anghami Inc.
Execution of the transaction is subject to obtaining customary regulatory and anti-trust approvals, with the integration expected to be finalized early 2024.
For more details, please refer the press release available at:
https://kipco.com/kipco-announces-a-deal-that-brings-together-osn-and-anghami/
For further information, please contact:
Investors, Press and Media:
Eman Al-Awadhi
49th Floor
KIPCO Tower, Khaled Bin Al-Waleed St, Sharq
P.O. Box 23982
Safat 13100
Kuwait
Tel: +965 2294 3416
Email: eman.alawadhi@kipco.com
RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our Privacy Policy.
