Kuwait Projects Co SPC Limited
KIPCO announces a strategic deal between OSN+ and Anghami
Kuwait Projects Company (Holding) K.S.C.P. (the Guarantor of Kuwait Projects Co SPC 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:
For further information, please contact:
Investors, Press and Media:
KIPCO Tower, Khaled Bin Al-Waleed St, Sharq
P.O. Box 23982
Tel: +965 2294 3416