Spotify Rival’s Nasdaq Listing May Herald Mideast SPAC Boom
- Vistas has seen interest from mideast firms since Anghami deal
- Mideast SPACs are relatively rare, but deals are picking up
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Spotify Technology SA rival Anghami’s listing via a merger with a blank-check company has triggered a flurry of interest from Middle-Eastern firms exploring similar deals in a region where they are a rarity.
Anghami had announced plans to merge with special purpose acquisition vehicle Vistas Media Acquisition Company Inc. in March. Since then, Vistas says it has got “an overwhelming response” from venture capital, private equity firms and entrepreneurs to explore opportunities.