Myke Rabar Net Worth: Since listing on the Nairobi Securities Exchange, Homeboyz Entertainment Plc has not had any activities. The stock remains unattractive to buyers, leaving the initial shareholders are the only stake holders. HBE listed 63.2 million shares on the Growth Enterprise Market Segment (GEMS) of the Nairobi Securities Exchange (NSE) in December 2020, becoming the first entertainment firm to join the bourse. The firm listed on the NSE via introduction.
In the listing, the founder and chief executive officer former Dj Myke Rabar revealed that he and his family own a combined stake of Sh. 295.5 million.
The former Dj holds 35.612 million shares worth Sh. 165.95 million. His wife Rose Nyaguthii has 27.568 million shares worth Sh. 128.47 million. His brother John Obonyo owns the remaining 20,000 shares worth Sh. 93,200.
Leah Muthoni: What I have learned from saving money through Sacco
In its debut trading in December, the firm offered 50,000 shares that attracted a bid price of Sh. 1.50. No shares changed hands. Nearly three months later, investors have kept away from the shares. There have been no transaction on this stock.
In December 2020, the NSE Chairman Kiprono Kittony had lauded the firm for tapping into the capital markets to power growth. He said the listing was going to set Homeboyz Entertainment apart from its competition and launch a new path that would unlock its potential and opportunities.
Rabar said that the exercise will enable them to compare the firm’s value against local and global benchmarks.
“This listing will allow us to create value for ourselves and prospective shareholders. This exercise enables us to compare our value against local and international benchmarks and subsequently informs our strategic growth plans for the business,” he said. “Additionally, the listing will give us the unique opportunity to participate in corporate finance transactions such as mergers and acquisitions as well as allowing us to access affordable capital through our capital markets.”
Homeboyz said that it recorded Sh. 300 million in annual revenues and an asset base of Sh. 78 million in the previous year.
