OSN Offers to Buy Remaining 33% of Anghami to Take Music Platform Private

Dubai-based streaming giant OSN has submitted a preliminary, non-binding proposal to acquire the remaining 33% of Nasdaq-listed music platform Anghami it does not already own, offering $3.39 per share in cash to take the influential MENA media brand fully private. This move, which could value the remaining stake at approximately $30 million, aims to unify the streaming group under OSN's control and end Anghami's time as a publicly traded company following their 2024 merger that gave OSN a 67% majority stake. Anghami's board has formed an independent special committee to review the offer, negotiate with OSN, and determine viability, stressing that no final agreement exists and the deal remains uncertain as it requires further board and shareholder approval.