Quickmart Makes Historic NSE Debut as Shares Begin Trading at Ksh10

Quickmart Supermarkets has officially joined the Nairobi Securities Exchange (NSE), marking a major milestone in the growth of the Kenyan retail sector and opening a new chapter for the family-founded business.

The supermarket chain began trading on Thursday, November 12, with its shares opening at an average price of Ksh10, following an Initial Public Offering (IPO) that attracted considerable interest from investors.

In a statement welcoming the retailer to the stock market, the NSE praised Quickmart’s transformation from a local supermarket in Nakuru into one of the country’s leading retail chains.

The exchange noted that the listing would strengthen Kenya’s capital markets by providing businesses with opportunities to raise capital while allowing more citizens to participate in investment opportunities.

Capital Markets Authority (CMA) Chairman Ugas Mohamed said the IPO demonstrated growing investor confidence in Kenya’s financial markets, revealing that applications received exceeded the number of shares available.

He challenged Quickmart to maintain high standards of corporate governance and ensure transparent communication with shareholders following its entry into the public market.

Trade Cabinet Secretary Lee Kinyanjui also celebrated the achievement, highlighting Nakuru’s contribution to the development of major retail businesses in Kenya.

He described Quickmart’s listing as evidence that a family-owned enterprise could expand into a major institution with public shareholders.

British Deputy High Commissioner Diana Dalton said the United Kingdom supported the transaction through MOBILIST, an international programme that helps growing businesses access financing through public listings.

The listing follows the conclusion of Quickmart’s IPO, which attracted applications worth approximately Ksh18.4 billion against an offer of two billion shares valued at Ksh15 billion.

According to the allocation results announced on November 6, the offer received 18,492 applications, representing a subscription rate of 122.7 per cent.

The shares were initially offered at Ksh7.50 each, with Kenyan and East African retail and institutional investors receiving their full requested allocations.

The successful listing provides an important milestone for Quickmart as it enters a new phase of growth under public ownership.

https://nairobileo.co.ke/business/article/31432/quickmart-officially-joins-nairobi-securities-exchange

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