Baker Botts represents SHUAA Capital

SHUAA Capital psc., the UAE’s publicly-listed asset management and investment banking firm, has gathered and subscribed for commitments of USD30 million in PIPE financing in connection with the proposed business combination between Anghami and Vistas Media Acquisition Company Inc., a publicly-traded special purpose acquisition company that raised USD100 million in its August 2020 initial public offering. Anghami, the leading music streaming platform in the Middle East and North Africa, will be the first Arab technology company to list on NASDAQ.

Founded in 2012, Anghami has built a market-leading platform, offering more than 57 million songs to more than 70 million registered users with around 1 billion streams per month. Baker Botts L.L.P. is representing SHUAA Capital psc. in the transaction.

The Baker Botts lawyers/offices involved are Corporate: Haitham Hawashin (partner, Dubai); John Kaercher (partner, Austin); and Catherine Gallagher (partner, Washington, D.C.).