Kenya’s stock exchange has announced that Homeboyz Entertainment PLC will on Monday 21st December list on the Growth Enterprise Market Segment (GEMS) of the exchange following approvals from the regulator.
Homeboyz will list 63.2 Million shares at a price of Ksh 4.60 per share under the ticker HBE. The shares of the company won’t be available for trading immediately after the listing. AIB-AXYS (formerly AIB Capital) is the nominated advisor while Horizon Africa Capital Limited is transaction advisor. The listing prospectus of the company was made public after the listing ceremony on Monday morning.
The listing, which will be done by introduction was first announced on October 27th 2020. Homeboyz entertainment was the tenth company to join the Nairobi Securities Exchange incubation program in May 2019.
NSE’s Ibuka is a ten-month program where small and medium-sized companies are prepared for possible listing in the future. The program allows firms to access experts on listing, financial advisors and other consultants.
Homeboyz Entertainment will join the Growth Enterprise Market Segment (GEMS) at the NSE by introduction. Companies listed on the GEMS include; Home Afrika, Flame Tree, Kurwitu and Nairobi Business.
Homeboyz gets a big chunk of its revenues from events management and that has significantly been affected by the current pandemic.
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