{"id":542900,"date":"2022-01-23T04:02:37","date_gmt":"2022-01-23T04:02:37","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/anghami-takes-one-step-closer-to-its-spac-listing-uaes-masdar-has-big-growth-plans\/"},"modified":"2022-01-23T04:02:37","modified_gmt":"2022-01-23T04:02:37","slug":"anghami-takes-one-step-closer-to-its-spac-listing-uaes-masdar-has-big-growth-plans","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/anghami-takes-one-step-closer-to-its-spac-listing-uaes-masdar-has-big-growth-plans\/","title":{"rendered":"Anghami takes one step closer to its SPAC listing + UAE\u2019s Masdar has big growth plans"},"content":{"rendered":"

<\/a> Anghami takes one step closer to its SPAC listing:<\/strong> The streaming platform\u2019s merger<\/a> \u2014 which would value the company at around USD 220 mn \u2014 with blank-check firm Vistas Media Acquisition Company was approved by Vistas shareholders at a special stockholders meeting last week, the companies announced in a joint statement<\/a>.<\/p>\n

Anghami and Swvl are in something of a race to close their SPACs:<\/strong> Queen\u2019s Gambit is looking to close with Swvl this month, the domestic press quoted Swvl CEO Mostafa Kandil<\/a> as saying last month. Anghami is looking to close by 11 February. You can check out its latest investor presentation here<\/a>.<\/p>\n

But they haven\u2019t picked a great time for it:<\/strong> SPACs, IPO stocks and tech are in the middle of a heavy sell-off triggered by the Federal Reserve\u2019s announcement that it will hike interest rates several times this year. Seven SPACs have written to the US Securities and Exchange Commission<\/a> to cancel IPO plans this month as poor performance coupled with increasing regulatory scrutiny hurts the asset class.<\/p>\n

Closer to home though, SPACs are only getting started:<\/strong> We could see our first homegrown SPAC established within the next month, Financial Regulatory Authority (FRA) chief Mohamed Omran said last week.<\/a><\/p>\n

Also worth noting this morning: <\/strong>UAE-based renewable energy firm <\/strong>Masdar<\/a><\/strong> plans to more than double its <\/strong>operations this decade<\/strong>, driven in part by the acquisition of power firms in the US and Europe, Bloomberg<\/a> reports CFO Niall Hannigan saying. The subsidiary<\/a> of Abu Dhabi\u2019s Mubadala sovereign wealth fund could get the capital for its \u201csignificant\u201d growth ambitions from the UAE government, international capital markets, or the potential sale of its first corporate bond next year.<\/p>\n

\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n
\n

<\/use><\/svg><\/p>\n<\/td>\n\n

EGX30 <\/strong><\/p>\n<\/td>\n

\n

11,732<\/p>\n<\/td>\n

\n

+0.1% (YTD: -1.8%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD (CBE)<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

USD at CIB<\/strong><\/p>\n<\/td>\n

\n

Buy 15.66<\/p>\n<\/td>\n

\n

Sell 15.76<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Interest rates CBE<\/strong><\/p>\n<\/td>\n

\n

8.25% deposit<\/p>\n<\/td>\n

\n

9.25% lending<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Tadawul<\/strong><\/p>\n<\/td>\n

\n

12,291<\/p>\n<\/td>\n

\n

+0.3% (YTD: +9.0%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

ADX<\/strong><\/p>\n<\/td>\n

\n

8,706<\/p>\n<\/td>\n

\n

+0.3% (YTD: +2.6%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

DFM<\/strong><\/p>\n<\/td>\n

\n

3,210<\/p>\n<\/td>\n

\n

+1.3% (YTD: +0.4%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

S&P 500<\/strong><\/p>\n<\/td>\n

\n

4,398<\/p>\n<\/td>\n

\n

-1.9% (YTD: -7.7%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

FTSE 100<\/strong><\/p>\n<\/td>\n

\n

7,494<\/p>\n<\/td>\n

\n

-1.2% (YTD: -1.5%)<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Brent crude<\/strong><\/p>\n<\/td>\n

\n

USD 87.89<\/p>\n<\/td>\n

\n

-0.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Natural gas <\/strong>(Nymex)<\/p>\n<\/td>\n

\n

USD 4.00<\/p>\n<\/td>\n

\n

+5.2%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

Gold<\/strong><\/p>\n<\/td>\n

\n

USD 1,834<\/p>\n<\/td>\n

\n

-0.6%<\/p>\n<\/td>\n<\/tr>\n

\n

<\/use><\/svg><\/p>\n<\/td>\n\n

BTC<\/strong><\/p>\n<\/td>\n

\n

USD 35,428<\/p>\n<\/td>\n

\n

-3.8% (as of midnight)<\/p>\n<\/td>\n<\/tr>\n<\/tbody>\n<\/table>\n<\/div>\n

THE CLOSING BELL-<\/strong><\/p>\n

The EGX30 rose 0.1% on Thursday<\/strong> on turnover of EGP 746 mn (35.2% below the 90-day average). Local investors were net sellers. The index is down 1.8% YTD.<\/p>\n

In the green: <\/strong>EFG Hermes (+1.4%), GB Auto (+1.1%) and CIB (+1.0%).<\/p>\n

In the red: <\/strong>Fawry (-3.3%), AMOC (-3.0%) and Raya Holding (-2.6%).<\/p>\n","protected":false},"excerpt":{"rendered":"

Anghami takes one step closer to its SPAC listing: The streaming platform\u2019s merger \u2014 which would value the company at around USD 220 mn \u2014 with blank-check firm Vistas Media Acquisition Company was approved by Vistas shareholders at a special stockholders meeting last week, the companies announced in a joint statement. Anghami and Swvl are […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[7210],"tags":[534,72,119,122,439,507],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-542900","post","type-post","status-publish","format-standard","hentry","category-planet-finance","tag-anghami","tag-enterpriseam","tag-financial-markets","tag-planet-finance","tag-spacs","tag-swvl","wpautop","entry"],"acf":{"mongo_id":"34e2d54a-40f0-4a3b-9c05-052f0edf014d","is_powered_by":true,"story_type":"1","photo_url":"","photo_position":"above","related_issue":[542878],"teaser":"","voice_url":""},"yoast_head":"\nAnghami takes one step closer to its SPAC listing + UAE\u2019s Masdar has big growth plans - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2022\/01\/23\/anghami-takes-one-step-closer-to-its-spac-listing-uaes-masdar-has-big-growth-plans\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Anghami takes one step closer to its SPAC listing + UAE\u2019s Masdar has big growth plans\" \/>\n<meta property=\"og:description\" content=\"Anghami takes one step closer to its SPAC listing: The streaming platform\u2019s merger \u2014 which would value the company at around USD 220 mn \u2014 with blank-check firm Vistas Media Acquisition Company was approved by Vistas shareholders at a special stockholders meeting last week, the companies announced in a joint statement. 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The European Bank for Reconstruction and Development (EBRD) and Teklas Ventures,\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/2\/61.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":542803,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/01\/18\/egypts-first-ever-spac-to-list-on-egx-by-next-month-omran\/","url_meta":{"origin":542900,"position":1},"title":"Egypt\u2019s first-ever SPAC to list on EGX by next month -Omran","author":"enterpriseam admin","date":"18 January 2022","format":false,"excerpt":"Make way for our first SPAC: Egypt\u2019s first blank-check company will be established within the next month, Financial Regulatory Authority (FRA) chief Mohamed Omran told Bloomberg Asharq yesterday. \u201cAt the end of this month or early next month, we will have the first blank check company,\u201d he said. The SPAC\u2026","rel":"","context":"In "EGX"","block_context":{"text":"EGX","link":"https:\/\/enterpriseam.com\/egypt\/category\/egx\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/1\/203.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":545023,"url":"https:\/\/enterpriseam.com\/egypt\/2022\/03\/31\/swvl-to-debut-on-the-nasdaq-today-after-spac-merger-approved\/","url_meta":{"origin":542900,"position":2},"title":"Swvl to debut on the Nasdaq today after SPAC merger approved","author":"enterpriseam admin","date":"31 March 2022","format":false,"excerpt":"Swvl is making its landmark Nasdaq debut today: Shares in Egypt-born, UAE-based mass transit app Swvl will start trading on the Nasdaq today, Swvl CFO Youssef Salem confirmed to Enterprise, after shareholders in its SPAC Queen\u2019s Gambit Growth Capital approved the move in a general assembly meeting yesterday. Swvl is\u2026","rel":"","context":"In "IPO"","block_context":{"text":"IPO","link":"https:\/\/enterpriseam.com\/egypt\/category\/business\/ipo-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2022\/3\/712.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":555557,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/11\/18\/anghami-eyes-december-nasdaq-listing\/","url_meta":{"origin":542900,"position":3},"title":"Anghami eyes December Nasdaq listing","author":"enterpriseam admin","date":"18 November 2021","format":false,"excerpt":"Anghami to complete SPAC merger + list on Nasdaq in December: Emirati music streaming service Anghami will pull the trigger on its SPAC merger and list on the Nasdaq at the end of December, Hossam El Gamal, the company\u2019s VP for North Africa, told Enterprise. The Abu Dhabi-based company is\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/11\/506.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560576,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/04\/anghami-eyes-egypt-growth-after-nasdaq-spac-listing\/","url_meta":{"origin":542900,"position":4},"title":"Anghami eyes Egypt growth after Nasdaq SPAC listing","author":"enterpriseam admin","date":"4 March 2021","format":false,"excerpt":"Anghami has plans to expand in Egypt after it becomes the Middle East\u2019s first tech company to list in New York with plans to merge with Nasdaq-listed SPAC Vistas Media Acquisition Company, it said in a statement carried by several press outlets (Bloomberg | Reuters). The streaming service, which has\u2026","rel":"","context":"In "Investment Watch"","block_context":{"text":"Investment Watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/investment-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/3\/89.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":554234,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/12\/27\/this-morning-cbe-extends-pandemic-fee-cuts-tourism-support-measures-anghami-swvl-in-a-race-to-see-who-spacs-first\/","url_meta":{"origin":542900,"position":5},"title":"THIS MORNING: CBE extends pandemic fee cuts, tourism support measures + Anghami, Swvl in a race to see who SPACs first","author":"enterpriseam admin","date":"27 December 2021","format":false,"excerpt":"Good morning, friends, and welcome to the final business week of 2021. We hope Santa Claus found you \u2014 and that Christmas was wonderful for all of our readers who observe.We have an incredibly packed issue this morning so we\u2019re going to jump right in after quickly reminding you all\u2026","rel":"","context":"In "What We're Tracking Today"","block_context":{"text":"What We're Tracking Today","link":"https:\/\/enterpriseam.com\/egypt\/category\/what-were-tracking-today\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542900","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=542900"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/542900\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/542878"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=542900"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=542900"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=542900"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=542900"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=542900"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}