Image/Quickmart Supermarket

Quick Mart PLC has officially opened its initial public offering (IPO), offering investors an opportunity to acquire shares in the Kenyan supermarket chain ahead of its planned listing on the Nairobi Securities Exchange (NSE).

The company announced on October 5, 2026, that it had received the necessary regulatory approvals from the Capital Markets Authority (CMA) and the NSE for the offer and subsequent admission of its shares to trading on the Main Investment Market Segment (MIMS).

Under the offer, 2 billion existing ordinary shares, representing 50 percent of Quickmart’s issued share capital, are being offered for sale at KSh7.50 per share. The transaction gives the IPO a total value of KSh15 billion and places the company’s implied market capitalisation at KSh30 billion at the offer price.

The shares are being sold by Sokoni Retail Kenya Limited, the company’s selling shareholder. The shares have a nominal value of KSh0.20 each, while Quickmart has an issued share capital of 4 billion ordinary shares.

The IPO opened at 9:00 a.m. East Africa Time on October 5 and will close at 5:00 p.m. on October 30, 2026. Investors are required to apply for a minimum of 500 shares, with additional applications made in multiples of 100 shares. There is no maximum application limit.

The offer has attracted a conditional commitment from the International Finance Corporation (IFC), which has committed to purchase up to US$15 million worth of the shares, equivalent to approximately KSh1.94 billion. If completed, the investment would represent up to about 13 percent of the offer and approximately 6.5 percent of Quickmart’s outstanding share capital.

The IFC investment remains subject to approval by its board of directors. The corporation has clarified that its participation is strictly as a commercial investor and should not be interpreted as an endorsement, recommendation, government guarantee or institutional backing of Quickmart or the IPO.

Quickmart’s IPO is also subject to a minimum subscription condition. For the offer to proceed, valid applications must be received and accepted for at least 75 percent of the shares on offer, equivalent to 1.5 billion shares, by the closing date. If that threshold is not met, the offer will not proceed and application monies will be refunded without interest.

The IPO is not underwritten, meaning there is no underwriting commitment to purchase shares that remain unsubscribed.

Investors can apply electronically through the designated IPO application portal or by using the USSD code *483*803#. The USSD application option is available to investors applying for shares with an aggregate value of up to KSh250,000. Physical application forms are also available through the IPO application portal and may be submitted to the designated placing agents before the offer closes.

Applicants must have a valid Central Depository and Settlement (CDS) account before the shares can be credited to them. Applications are also irrevocable and cannot be withdrawn or amended without the prior written consent of Quick Mart PLC.

Following the close of the offer, Quickmart expects to announce the IPO results and notify investors of their allocations on November 6, 2026. Qualified institutional investors are scheduled to make payment on November 10, with allotment and the crediting of shares to successful investors’ CDS accounts expected on November 11.

The company has set November 12, 2026, as the anticipated listing date, when trading in Quickmart shares is expected to commence on the NSE, subject to the applicable approvals and completion of the process.

Sokoni Retail Kenya Limited will also be subject to a 24-month lock-up period beginning on the listing date in respect of 60 percent of its post-offer shareholding.

Quick Mart PLC said the CMA approval covers the offer and its Information Memorandum, while the NSE has approved the listing and admission to trading of the company’s entire issued share capital of 4 billion ordinary shares on the MIMS. Both institutions have emphasized that their approvals should not be interpreted as recommendations or endorsements of Quickmart or the investment opportunity.

The company has published its Information Memorandum dated October 2, 2026, containing detailed information about the IPO, the company and the investment. Prospective investors have been advised to read the document in full and seek independent professional advice before making investment decisions.

SBG Securities and Stanbic Bank are serving as the lead transaction advisers, with SBG Securities also acting as the sponsoring broker and lead placing agent. Stanbic Bank is the receiving bank, while BOWMANS is the legal adviser and EY is the reporting accountant. Dyer & Blair is serving as co-placing agent, Image Registrars as data processing agent and share registrar, Creide as the public relations agency, and Adili Group as corporate governance adviser.

The company noted that the announced timetable may be changed, with any amendments expected to be communicated through the appropriate public notices and the company’s official channels. The offer period may also be extended or shortened subject to CMA approval.

Quickmart’s IPO marks a significant step in the supermarket chain’s plans to access Kenya’s public capital markets, giving retail and institutional investors an opportunity to acquire an ownership stake in the company through the NSE.