Fintech PR

Anghami Secures Significant Investment from OSN Group

Published

2 days ago

December 16, 2024

anghami-secures-significant-investment-from-osn-group

Anghami Strengthens Regional Streaming Leadership with up to $55 Million Commitment from OSN Group

ABU DHABI, UAE, Dec. 16, 2024 /PRNewswire/ — Building on the success of their partnership, Anghami Inc. (NASDAQ: ANGH) has announced that it secured a significant new round of funding, from OSN Group of up to USD $55 million with a USD $12 million initial investment in a convertible note program. This investment represents a significant milestone in Anghami Inc.’s journey to redefine digital entertainment in the MENA region, further solidifying its position as the go-to destination for premium audio and video content.

Since the initial strategic partnership between OSN and Anghami Inc. in April 2024, which brought together the unparalleled premium video streaming capabilities of OSN+ and its 18,000 hours of content with Anghami’s robust audio portfolio of over 100 million songs and podcasts, the partnership has delivered robust growth.

Highlights include:

Rebuilt and relaunched the new OSN+ platform, resulting in increased time spent and higher engagement of subscribers
Launched the new 4K Premium Plan with Dolby Atmos and Dolby Vision
Delivered a 41% growth in video streaming subscribers between April and October 2024.
Implementation of sophisticated improvements in the AI recommendation engine, resulting in enhanced content discoverability

This latest investment aims to accelerate Anghami and OSN+’s growth trajectory, enabling the platforms to expand their content library, enhance user experience through cutting-edge technologies, and strengthen their presence across the MENA region. It is also aimed to drive innovations such as AI-driven personalization and next-generation streaming technologies.

Elie Habib, CEO of Anghami and OSN+, said: “The success of this partnership is a testament to the power of collaboration and innovation. With this new investment from OSN Group, we are poised to elevate the digital entertainment experience for MENA audiences even further and expand our reach.”

Joe Kawkabani, CEO, OSN Group added: “This new round of funding reflects our unwavering belief in Anghami’s potential to lead the MENA region in digital entertainment. Together, we will continue redefining how audiences experience premium content, ensuring our platform remains a pioneer in the industry.”

About Anghami Inc. (NASDAQ: ANGH) :

Anghami is the leading multi-media technology streaming platform in the Middle East and North Africa (“MENA”) region, offering a comprehensive ecosystem of exclusive premium video, music, podcasts, live entertainment, audio services, and more.

In a strategic move in April 2024, Anghami joined forces with OSN+, a leading video streaming platform, forming a digital entertainment powerhouse. This pivotal transaction strengthened Anghami’s position as a go-to destination, boasting an extensive library of over 18,000 hours of premium video, including exclusive HBO content, alongside 100+ million Arabic and International songs and podcasts. The OSN+ platform delivers the latest content at the same time as the US, including critically acclaimed must-see series and movies as well as world-class Arabic content and OSN+ Originals.

With a user base exceeding 120 million registered users and 3.5 million paid subscribers, Anghami has partnered with 47 telcos across MENA, facilitating customer acquisition and subscription payment, in addition to establishing relationships with major film studios, entertainment giants, and music labels, both regional and international. Headquartered in Abu Dhabi, UAE, Anghami operates in 16 countries across MENA, with offices in Beirut, Dubai, Cairo, and Riyadh.

To learn more about Anghami, please visit: https://anghami.com.

About OSN Group

OSN Group is the leading network for premium entertainment in the MENA region, operating in 22 countries featuring exclusive, in-demand global and local hit TV series and films as well as premium music offerings. OSN Group delivers content across multiple products: OSN+, OSNtv, Anghami and B2B offerings across the region.

Home to the most compelling content from global studios, including Warner Bros. Discovery and NBCUniversal, OSN spearheads premium content including Western, Arabic, Turkish, and more across its divisions, distinctively known for exclusively broadcasting the latest HBO content on the same day as the US, including popular series, blockbuster movies, and the best in kids and lifestyle programming. OSN Group was formed in 2009 by the merger of the two largest subscription TV networks in the region, namely Orbit and Showtime Arabia, and is a subsidiary of KIPCO – Kuwait Projects Company (Holding).

Cautionary Statement Regarding Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Anghami’s actual results may differ from its expectations, estimates, and projections and, consequently, you should not rely on these forward-looking statements as predictions of future events. Words such as “expect,” “estimate,” “start,” “project,” “budget,” “forecast,” “preliminary,” “anticipate,” “aims,” “intend,” “plan,” “may,” “will,” “could,” “should,” “believes,” “continue,” “predicts,” “potential,” “transform,” “commitment” and similar expressions (or the negative versions of such words or expressions) are intended to identify such forward-looking statements. These statements include those related to the effect of the investment and partnership for the platforms, users, OSN Group and Anghami and innovation. These forward-looking statements involve significant risks and uncertainties that could cause the actual results to differ materially from those discussed in the forward-looking statements. Most of these factors are outside Anghami’s control and are difficult to predict. Factors that may cause such differences include, but are not limited to: the outcome of any legal proceedings that may be instituted against Anghami; changes in applicable laws or regulations; and the possibility that Anghami may be adversely affected by other economic, business, and/or competitive factors; and other risks and uncertainties identified in Anghami’s fiscal 2023 annual report on Form 20-F filed with the U.S. Securities and Exchange Commission (the “SEC”) on April 29, 2024, including those under “Risk Factors” therein, and in other documents filed or to be filed with the SEC by Anghami and available at the SEC’s website at www.sec.gov. Anghami cautions that the foregoing list of factors is not exclusive. Anghami cautions readers not to place undue reliance upon any forward-looking statements, which speak only as of the date made. Except as required by law, Anghami does not undertake or accept any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.

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Fintech PR

TuniTuni Promotes Early Childhood Physical Movement and Expands Globally with Interactive Storytelling Program

Published

6 hours ago

December 18, 2024

CISION (PR Newswire)

tunituni-promotes-early-childhood-physical-movement-and-expands-globally-with-interactive-storytelling-program

SEOUL, South Korea, Dec. 17, 2024 /PRNewswire/ — TuniTuni, the leading storytelling physical education program for toddlers, is expanding internationally while emphasizing the importance of physical movement in early childhood development. Since its founding in 2003, TuniTuni, the early childhood physical education brand under Daekyo, has been making waves in South Korea, offering a unique combination of engaging stories and physical activity for children aged 12 to 36 months.

Global Expansion: TuniTuni’s Reach Beyond South Korea

TuniTuni’s global reach continues to expand. The brand opened its first international center in Vietnam in 2022, marking the start of its global journey. In June 2024, TuniTuni furthered its expansion with the opening of its first direct-operated center in Hong Kong, followed by a second center in Kuala Lumpur, Malaysia, in October.

In the United States, TuniTuni classes were previously held in New York and New Jersey, and are currently taking place in Philadelphia. Looking ahead, a TuniTuni directly-operated center is set to open in Fort Lee, New Jersey, in March next year.

To celebrate the opening of the Kuala Lumpur center, TuniTuni Malaysia is offering exclusive December promotions. Parents who register this month can enjoy special offers, including TuniTuni dolls, balls, and other educational props.

Why Physical Movement is Essential for Toddlers

Physical movement between the ages of 24 and 36 months plays a critical role in stimulating brain development, helping toddlers build motor skills, language abilities, and emotional regulation. TuniTuni’s weekly themed lessons and interactive props ensure that children are engaged and entertained while developing essential physical skills in a playful and enjoyable way.

TuniTuni’s Innovative Approach to Early Childhood Development

Each week, TuniTuni introduces a new, fun-filled theme, incorporating diverse physical movements and imaginative storytelling. This approach not only keeps children excited and motivated but also nurtures curiosity, laying a foundation for healthy physical and cognitive development.

Why Choose TuniTuni for Your Child’s Physical Development?

TuniTuni stands out for its unique integration of physical education and storytelling, providing children with a fun and engaging way to build confidence, enhance motor skills, and develop a lifelong love for physical activity. This innovative approach is designed to give young children a strong, well-rounded start in life through play and movement.

TuniTuni’s program continues to attract global attention, setting a new standard for early childhood development with its proven ability to foster both physical and cognitive growth.

About TuniTuni

TuniTuni is a leading early childhood physical education brand under Daekyo, a renowned educational company in South Korea. With a focus on promoting physical activity and development through interactive storytelling, TuniTuni has impacted the lives of one in six children in South Korea, shaping the next generation’s growth through play. For more detailed information, please visit tunituniglobal.com.

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Fintech PR

2024 IPO wrapped: Americas and EMEIA recover, Asia-Pacific lags

Published

7 hours ago

December 18, 2024

CISION (PR Newswire)

2024-ipo-wrapped:-americas-and-emeia-recover,-asia-pacific-lags

In 2024, global IPO volumes fell 10%, with proceeds down by 4% YOY
India led in volume and the US led in proceeds
Chinese mainland experienced its lowest IPO activity in a decade

LONDON, Dec. 18, 2024 /PRNewswire/ — The global IPO market recorded 1,215 deals, raking in US$121.2b in proceeds for 2024, falling slightly behind 2023 levels. The second half of this year had a stronger performance compared with the first half, with the fourth quarter outperforming the three preceding quarters. These and other findings are available in the EY Global IPO Trends 2024.

India, for the first time, has risen to the number one position globally in IPO volume, listing nearly twice as many IPOs as the US and two-and-a-half times as many as Europe. Meanwhile, the US reclaimed the top spot globally for IPO proceeds for the first time since the 2021 peak, continuing to stand out as the most dynamic and attractive market for global investors. The US stock market’s valuation also reached unprecedented levels, outpacing all other markets. In addition, a historic high of 55% of US public listings in 2024 were foreign issuers. Tightened regulations in the Chinese mainland contributed to its weakest IPO performance in a decade by number. Australia faced its sharpest decline in volume in more than 20 years. And Malaysia achieved a 19-year record high for number of IPOs, fueled by increased interest to its valuation and liquidity.

In 2024, public listings of private equity- (PE) and venture capital- (VC) backed portfolio companies generated 46% of total global IPO proceeds, highlighting their substantial contribution to global IPO activity and reinforcing the critical role of PE and VC firms in shaping the IPO landscape. Out of the 20 mega IPOs in 2024, 12 were PE-backed, a significant increase from the two listed last year. There were also 18 unicorn IPOs listed in 2024, half of which were launched by VC firms, up from just three in 2023.

Technology, media and telecommunications (TMT), industrials and consumer sectors dominated global IPOs, with an approximately combined 60% share across all sectors by both number and proceeds.

Cross-border listings continued to increase in 2024 with a total of 113 listings compared with 83 in 2023. The US remained the leading destination for IPOs, while mid-to-large cap deals demonstrated a solid after-market performance.

2024 regional performance

EMEIA emerged as the leader in both volume and proceeds among the regions, with 522 deals raising US$53.2b. The region contributed six of the top 10 largest public offerings, with three of them PE-/VC-backed.

The Americas saw a strong recovery, reaching its highest IPO activity since 2021, in both volume and proceeds, with 205 IPOs raising US$33.1b.

IPO activity in the Asia-Pacific region continued its downward trajectory that began in 2021, declining 35% in deals and 51% in proceeds year-over-year (YOY), although the second half of the year had a greater performance compared with the first half.

AI companies continue to attract investors; crypto-focused firms gain momentum

There are currently more than 600 artificial intelligence (AI) and AI-related public companies and nearly half of them have gone public in the past four years, many with VC backing, demonstrating how IPOs can help overcome funding challenges while driving innovation and growth.

Approximately, 60 AI companies are currently in the process of IPO registration, with more than 400 in the pipeline, indicating continued investor interest and VC support in AI-driven innovations. If the AI vertical establishes a benchmark in successful IPOs, it could encourage other high-growth verticals to pursue IPOs, fueling broader market momentum in future years.

The approval of Bitcoin and Ethereum exchange-traded funds (ETFs) in the US this year has enhanced the legitimacy of digital assets, which provides greater access for institutional investors and improved market liquidity, potentially driving a wave of IPO filings from crypto-focused firms. The success of these IPOs, however, also hinges on navigating regulatory challenges and showcasing robust compliance structures.

Impact on IPOs post US election

Historically, IPO activity has typically risen in the years following the US presidential elections, regardless of which party controls the majority. There’s usually a certain amount of uncertainty in the lead up to an election, but, post-election, there is generally greater clarity in terms of policy direction and economic initiatives. This tends to stabilize market sentiment, creating a more favorable environment for IPOs. First-movers in a post-election year tend to include industrials, TMT and financials. However, nearly all sectors experience growth.

2025 outlook and beyond

Mega trends, including shifting fiscal and monetary policies, geopolitical tensions and global supply chain, AI and digital transformation, new environmental, social and governance (ESG) priorities and the influence of the new US administration are reshaping the global IPO market. Despite these transformative forces, the IPO market remains on track for a strong performance in 2025, supported by a cautiously optimistic economic environment, increasingly favorable monetary policies and heightened liquidity and valuation levels.

Simultaneously, the traditional global IPO market is evolving into interconnected, yet distinct regional ecosystems with their own sector specializations and growth drivers. The success of each sector is increasingly influenced by the economic conditions of its local market and the strategic priorities of the region.

George Chan, EY Global IPO Leader, says:

“Business transformation requires funding, and an IPO offers a powerful avenue to raise the capital needed to drive growth and innovation. After a period of slower activity, the global IPO market is regaining its momentum, supported by more favorable market conditions.

The outlook for 2025 appears increasingly optimistic, with a strong pipeline of companies across sectors looking to capture the opportunities presented by this renewed market strength.”

Notes to editors

About EY

EY is building a better working world by creating new value for clients, people, society and the planet, while building trust in capital markets.

Enabled by data, AI and advanced technology, EY teams help clients shape the future with confidence and develop answers for the most pressing issues of today and tomorrow.

EY teams work across a full spectrum of services in assurance, consulting, tax, strategy and transactions. Fueled by sector insights, a globally connected, multi-disciplinary network and diverse ecosystem partners, EY teams can provide services in more than 150 countries and territories.

All in to shape the future with confidence.

EY refers to the global organization, and may refer to one or more, of the member firms of Ernst & Young Global Limited, each of which is a separate legal entity. Ernst & Young Global Limited, a UK company limited by guarantee, does not provide services to clients. Information about how EY collects and uses personal data and a description of the rights individuals have under data protection legislation are available via ey.com/privacy. EY member firms do not practice law where prohibited by local laws. For more information about our organization, please visit ey.com.

This news release has been issued by EYGM Limited, a member of the global EY organization that also does not provide any services to clients.

About EY Private

As Advisors to the ambitious™, EY Private professionals possess the experience and passion to support private businesses and their owners in unlocking the full potential of their ambitions. EY Private teams offer distinct insights born from the long EY history of working with business owners and entrepreneurs. These teams support the full spectrum of private enterprises including private capital managers and investors and the portfolio businesses they fund, business owners, family businesses, family offices and entrepreneurs. Visit ey.com/private.

About EY IPO services

Going public is a transformative milestone in an organization’s journey. As the industry-leading advisor in initial public offering (IPO) services, EY teams advise ambitious organizations around the world and helps equip them for IPO success. EY teams serve as trusted business advisors guiding companies from start to completion, strategically positioning businesses to help achieve their goals over short windows of opportunity and preparing companies for their next chapter in the public eye. ey.com/ipo

About the data

The data presented here is available on ey.com/ipo/trends.

Q4 2024 refers to the fourth quarter of 2024 and covers completed IPOs from 1 October to 9 December 2024, plus expected IPOs by 31 December 2024 (forecasted as of 9 December 2024). Q4 2023 refers to the fourth quarter of 2023 and covers completed IPOs from 1 October to 31 December 2023. H1 2024 refers to the first half of 2024 and covers completed IPOs from 1 January 2024 to 30 June 2024. H2 2024 refers to the second half of 2024 and covers completed IPOs from 1 July to 9 December, plus expected IPOs by 31 December 2024 (forecasted as of 9 December 2024). 2024 refers to the full calendar year and covers completed IPOs from 1 January 2024 to 9 December 2024, plus expected IPOs by 31 December 2024 (forecasted as of 9 December 2024). 2023 refers to the full calendar year and covers completed IPOs from 1 January 2023 to 31 December 2023.

All data contained in this document is sourced from Dealogic, Mergermarket, PitchBook, S&P Capital IQ, LSEG (Refinitiv) and EY analysis unless otherwise noted. The Dealogic data in this report are under license by ION. ION retains and reserves all rights in such data. SPAC data are excluded from all data in this report, except where indicated.

Lauren Mosery
EY Global Media Relations
+1 732 977 2063
[email protected]

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Fintech PR

Adrian Butler Elected to PRA Group Board of Directors

Published

8 hours ago

December 17, 2024

CISION (PR Newswire)

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The chief technology officer at Foot Locker, Butler brings more than 25 years of leadership experience across all areas of technology to the Board

NORFOLK, Va., Dec. 17, 2024 /PRNewswire/ — PRA Group, Inc. (Nasdaq: PRAA), a global leader in acquiring and collecting nonperforming loans, announced today that Adrian Butler has been elected as an independent director of the company, effective January 1, 2025.

Butler is the chief technology officer (CTO) of Foot Locker, Inc., a leading global footwear and apparel retailer with approximately 2,450 retail stores in 26 countries across North America, Europe, Asia, Australia and New Zealand, and a licensed store presence in the Middle East and Asia. As Foot Locker’s CTO, Butler is responsible for driving technology strategy, innovation and delivery across their digital, data and analytics, supply chain/merchandising and omni-channel experiences. Prior to this role, he was chief information officer at Casey’s General Stores, Inc., and senior vice president of information technology and chief information officer at Dine Brands Global, Inc., the parent company of Applebee’s and IHOP restaurants. He also served as vice president in the technology services division at Target Corporation.

In addition to serving on boards such as Potbelly Corporation and Grambling University Foundation, his alma mater, Butler is the recipient of numerous awards and recognitions, including Los Angeles Business Journal’s CIO of the Year, CIO Magazine’s CIO 100, Computerworld’s Premier 100 IT Leaders, Board Prospects’ 50 Military Veteran Board Members Making a Difference and the 500 Most Powerful Business Leaders in Dallas-Fort Worth.

“We are thrilled to welcome Adrian to the Board,” said Steve Fredrickson, PRA Group Board chairman. “Adrian is an experienced public company board member and business leader with demonstrated success driving technology innovations to transform large global organizations across multiple industries after serving as captain in the United States Air Force. His business and technology insights and expertise will be invaluable to the Board and management as we continue to advance our IT strategy and preparedness in support of initiatives that drive profitable growth.”

“I am honored to join the talented Board at PRA Group as a strategic business partner and contribute my experience to support its continued growth and success around the globe,” said Butler.

About PRA Group
As a global leader in acquiring and collecting nonperforming loans, PRA Group, Inc. returns capital to banks and other creditors to help expand financial services for consumers in the Americas, Europe and Australia. With thousands of employees worldwide, PRA Group companies collaborate with customers to help them resolve their debt. For more information, please visit www.pragroup.com.

News Media Contact:
Elizabeth Kersey
Senior Vice President, Communications and Public Policy
(757) 641-0558
[email protected]

Investor Contact:
Najim Mostamand, CFA
Vice President, Investor Relations
(757) 431-7913
[email protected]