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Investing.com -- Anghami Inc. (NASDAQ:ANGH) stock fell 9.4% after the leading multi-media streaming platform in the MENA region announced plans to implement a 1-for-10 reverse stock split.
The company’s ordinary shares are expected to begin trading on a split-adjusted basis when markets open on August 4, 2025, under the existing "ANGH" symbol but with a new CUSIP number G0369L200.
Anghami shareholders approved the reverse split at a reconvened Extraordinary General Meeting on July 22, 2025. The primary purpose of the action is to regain compliance with Nasdaq Capital Market’s minimum bid price requirement for continued listing.
Upon implementation, every ten issued and outstanding ordinary shares will be combined into one share. The par value will increase proportionately from $0.0001 to $0.001 per share. The company stated that the reverse split will not have a dilutive effect on shareholders, and the proportion of shares held relative to authorized shares will remain unchanged.
All convertible securities and warrants will have their conversion or exercise prices adjusted proportionately in line with the reverse split. Shareholders will not receive fractional shares; instead, they will receive cash payments for any fractional shares resulting from the split.
Continental Stock Transfer and Trust Company has been appointed as the exchange and transfer agent. Shareholders holding shares electronically won’t need to take action to receive post-split shares, while those holding shares through banks or brokers will have their positions adjusted automatically.
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