NEW YORK: Shareholders of Vistas Media Acquisition Co. on Wednesday voted to approve a business combination with Anghami, one of the leading music streaming platforms in the Middle East and North Africa region.

The proposal was supported by approximately 98 percent of the publicly traded special-purpose acquisition firm’s shareowners.

The special meeting vote followed last year’s announcement by the companies of the launch of Vibe Music Arabia, a joint venture record label between Sony Music Entertainment Middle East, and Anghami.

Vistas Media Acquisition Co. shares rose more than 20 percent in premarket trading on Friday after the approval announcement, according to Market Watch.

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