Quickmart Set for NSE Debut on November 12 After Oversubscribed Sh15 Billion IPO

Quickmart PLC is scheduled to begin trading on the Nairobi Securities Exchange (NSE) on Thursday, November 12, following the successful completion of its Sh15 billion initial public offering (IPO).

According to an official announcement published by the retailer on November 6, the IPO attracted applications worth Sh18.41 billion, representing a subscription rate of 122.7 per cent against the targeted Sh15 billion.

The company received 18,492 applications covering 2,454,598,686 shares, exceeding the 2 billion shares available in the offer by approximately 454.6 million shares.

Quickmart offered the shares at Sh7.50 each, with the transaction structured as an offer for sale of existing shares held by its shareholder, Sokoni Retail Kenya Limited.

The listing will involve all 4 billion issued ordinary shares of the company on the NSE’s Main Investment Market Segment. The two billion shares offered to investors represent 50 per cent of the company’s issued share capital.

According to the company’s allocation announcement, Kenyan and East African retail investors, including eligible company staff, and regional institutional investors received full allocation of their valid applications.

Foreign investors submitted applications worth Sh3.58 billion, representing 298 per cent of the shares initially reserved for their category. The offer also attracted interest from international cornerstone investors.

Quickmart’s proposed market entry follows its expansion across Kenya’s retail sector. The company reported operating 72 stores across 16 counties and recorded revenue of Sh50.4 billion in the 2025 financial year, according to its October 26 corporate announcement.

The IPO provides an opportunity for investors who did not participate in the initial share offer to purchase the company’s shares through secondary-market trading once trading commences.

Unlike the IPO, subsequent purchases will be determined by prevailing market demand and supply rather than the original Sh7.50 offer price.

As of November 11, the company’s published timetable identifies November 12 as the scheduled commencement date for public trading.