HomeBoyz Entertainment Plc, a leading media, experimental marketing, and entertainment firm that also offers services in events production, had its shares hit a turnover of KSh 15.5 Million when the counter commenced trading at the Nairobi Securities Exchange(NSE).
This is seen as a positive signal from investors, who have given the counter- under the ticker symbol “HBE”, a thumps up on its trading debut.
The firm began its entry into the capital markets four years ago when it joined the Ibuka program- an acceleration and incubation platform set up by the NSE, to prepare companies for listing.
It was initially placed in the Growth Enterprise Market Segment(GEMS) at the NSE before being moved to the Main Market Segment, with a market capitalization of KSh 295 Million.
HomeBoyz History and Growth
While Homeboyz(HBE) was set to begin trading on December 21st 2020, the COVID-19 pandemic disruptions put these plans on ice, with the NSE giving the firm a one-year exception. During this period, Homeboyz began sorting out its way out of the financial doldrums by seeking a strategic partner.
Since the COVID-19 triggered downturn, HomeBoyz has displayed remarkable financial recovery with revenues rising 144% to KSh 366 Million in 2022 compared to KSh 150 Million in 2021. The firm, which began its operations 31 years ago as a tiny DJ Agency that focuses on weddings and house parties, saw its Gross Profit rise by 32% to KSh 166 Million from KSh 42 Million in 2021.
HomeBoyz posted a net profit of KSh 10.7 Million, a huge improvement from a net loss of KSh 17 Million in 2021.
According to Myke Rabar, HomeBoyz’s Chief Executive Officer, the firm has made significant financial growth since emerging from the NSE incubation program and listing three years ago. “We are keen to further expand our operations, fostering innovations and solidifying our position as a leading entertainment firm in Kenya. We look forward to creating more value to our shareholders and capitalizing on the available opportunities,” said Rabar in a statement.
Today, HomeBoyz is a giant in the entertainment biz and is considered one of the top event production firms in Africa. It has attracted a wide spectre of top-notch clients that include Rockefeller Foundation Warner Bros, Samsung Disney, United Nations, Microsoft, Google, BBC, Tiger Aspect (UK), Endemol, American Embassy, British Embassy and LG.
Geoffrey Odundo, NSE Chief Executive Officer said HomeBoyz Entertainment has shown exceptional growth and resilience in the entertainment industry as shown by the excitement from investors, reflecting their confidence in the firm’s prospects.
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