Quickmart shareholder opens sale of half the Kenyan retailer's shares at KSh 7.50 each ahead of NSE listing; offer closes 30 October

Kenyan supermarket chain Quick Mart PLC (Quickmart) opened its initial public offering on 5 October 2026, in which 2 billion existing ordinary shares are offered at KSh 7.50 each, a total of KSh 15 billion. The offer opened at 9am East Africa Time and closes at 5pm on 30 October, Eastleigh Voice reported on 5 October.

The Capital Markets Authority (CMA) has approved the offer and the information memorandum, and the Nairobi Securities Exchange (NSE) has approved the listing of all 4 billion ordinary shares on its Main Investment Market Segment. The Kenya Broadcasting Corporation (KBC) reported on 5 October that the offer values Quickmart at KSh 30 billion.

The shares on offer are 50 per cent of Quickmart's issued capital and are being sold by Sokoni Retail Kenya Limited, an existing shareholder, which faces a 24-month restriction on 60 per cent of its shareholding after the offer. Quickmart itself receives no proceeds and intends to keep funding organic growth mainly from internally generated cash flows, TechTrendsKE reported on 5 October.

The minimum application is 500 shares, KSh 3,750 according to KBC, and further applications must be in multiples of 100 shares, with no maximum. The offer needs a minimum subscription of 75 per cent, or 1.5 billion shares. Eastleigh Voice quoted the offer terms: "If the minimum subscription condition is not satisfied, the offer shall not proceed, and all application monies shall be refunded without interest." Results are due on 6 November. Shares are to be credited to successful applicants' CDS accounts, and any refunds made, on 11 November, and Quickmart shares are expected to start trading on the NSE on 12 November.

Investors need a Central Depository and Settlement (CDS) account. According to the personal finance site Money254, applications can be made online at quickmartipo.e-offer.app, by dialling *483*803# for applications worth up to KSh 250,000, or on paper forms, downloaded from the portal and handed to the placing agents by 5pm on 30 October, which is also the last day for retail investors to pay. Payment can be made by EFT, RTGS, telegraphic transfer or cash deposit into the account "Quickmart IPO" at Stanbic Bank Kenya, Chiromo branch (branch code 31000, SWIFT code SBICKENX), or through M-Pesa PayBill 8250250. Both use account number 6565650 followed by the six-digit number on the application form.

The International Finance Corporation (IFC) has conditionally committed to buy up to US$15 million of shares, about KSh 1.94 billion. That is up to about 13 per cent of the offer and 6.5 per cent of Quickmart's outstanding share capital. The commitment is subject to approval by the IFC's board of directors.

On dividends, KBC reported that Quickmart's board intends to target a payout ratio of at least 80 per cent of annual profit after tax, paid twice a year.

TechTrendsKE gave Quickmart's figures for the 2025 financial year as revenue of KSh 50.4 billion and adjusted profit after tax of KSh 1.7 billion, and put the chain at 72 stores in 16 counties, more than 8,000 employees and 2.5 million members in its Q-Points loyalty scheme.

Under its 2026–2030 growth strategy, Quickmart plans to open 10 to 15 stores a year in urban, peri-urban, regional and coastal markets, and to reach more than 100 stores in Kenya over the medium term, KBC reported.

KBC quoted Group Chief Executive Officer Peter Kang'iri as saying: "The opening of the Offer marks an important milestone in Quick Mart's journey." He also said: "Today, Kenyans have the opportunity to apply for shares in a business they already shop in."