What is the total amount Quickmart aims to raise through its IPO?

Quickmart aims to raise Ksh 15 billion through its Initial Public Offering.

What is the intended use of the funds raised from the IPO?

The funds raised are intended to fund Quickmart's expansion across the region and open new stores.

Quickmart Secures Regulatory Approval for Ksh 15 Billion IPO

The supermarket chain plans to list on the Nairobi Securities Exchange in November, with proceeds intended for regional expansion and new store openings.

Flat illustration of Stock certificate, Shopping basket, Chart, Kenyan shilling coin, Shelf

2026-10-05 · Updated 2026-10-05

Quick Mart PLC has received approval from the Capital Markets Authority to raise Ksh 15 billion through an Initial Public Offering (IPO), with its listing on the Nairobi Securities Exchange scheduled for November. The retailer is offering 2 billion existing ordinary shares held by Sokoni Retail Kenya Limited to investors at Ksh 7.50 per share. The offer, which opened recently, requires a minimum investment of 500 shares, equivalent to Ksh 3,750, and closes at the end of October.

Quickmart's entire issued share capital of 4,000,000,000 Ordinary shares has also been approved for listing and trading on the Main Investment Market Segment of the NSE. The company, currently valued at Ksh 30 billion in market capitalization, aims to use the funds raised to support its expansion across the region. This expansion strategy includes opening 10-15 new stores annually between 2026 and 2030, with a focus on urban, peri-urban, regional, and coastal markets, and a medium-term goal of over 100 stores in Kenya.

The International Finance Corporation (IFC) has conditionally committed to purchasing up to Ksh 1.94 billion ($15 million) in Offer Shares, representing approximately 13% of the Offer and 6.5% of Quickmart’s outstanding share capital, pending board approval. The supermarket chain currently operates 72 stores across 16 countries.

Following its listing, Quickmart's board intends to target a dividend payout ratio of at least 80% of annual profit after tax, paid semi-annually. This dividend payout will be subject to the company's financial performance, capital requirements, growth opportunities, board discretion, and applicable legal and regulatory requirements.

FAQ

What is the total amount Quickmart aims to raise through its IPO?: Quickmart aims to raise Ksh 15 billion through its Initial Public Offering.
What is the intended use of the funds raised from the IPO?: The funds raised are intended to fund Quickmart's expansion across the region and open new stores.