Homeboyz Entertainment, the leading entertainment and events production company in East Africa, plans to list on the Nairobi Securities Exchange before the end of the year. The CEO Myke Rabar made the announcement on Monday.
The company which currently is in the NSE incubation program will be the first to graduate into the main exchange. 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 Ventures which is currently suspended from trading.
Analysts have lauded the move, saying that the listing will increase diversity at the exchange. The Nairobi bourse has less than 65 listed companies compared to its African peers Nigeria Stock Exchange and Johannesburg Stock Exchange which have 168 and over 300 listed counters on their platforms respectively
Homeboyz entertainment stands to gain income and increased recognition from the listing. “Listing at the NSE will be a milestone and the first to a business like ours in the informal sector,” said Homeboyz Entertainment CEO Myke Rabar.