QUICKMART SET FOR NSE LISTING, SHAREHOLDERS TO SELL UP TO 57.5% STAKE

Kenyan supermarket chain Quickmart is preparing to list on the Nairobi Securities Exchange (NSE), in a transaction that could see its existing shareholders sell up to 57.5 per cent of the retailer to investors.

The proposed listing, announced on September 23, 2026, will be carried out through an offer for sale by Sokoni Retail Kenya Limited (SRKL), which currently owns all of Quickmart's issued shares. 

Under the initial offer, SRKL plans to sell 2 billion ordinary shares, equivalent to 50 per cent of Quickmart's issued share capital. The transaction also includes a proposed over-allotment option of up to 15 per cent of the offer shares, which could raise the total stake sold to approximately 57.5 per cent. 

The transaction is therefore a sale of existing shares rather than a new capital raise. Quickmart will not issue new shares and will not receive proceeds from the offer. Instead, the proceeds will go to the existing shareholders selling part of their holdings. 

If the over-allotment option is not exercised, SRKL is expected to retain approximately 50 per cent of Quickmart after the offer. If the option is fully exercised, its remaining stake would fall to approximately 42.5 per cent. 

Quickmart has expanded significantly since its formation following the combination of Quickmart and Tumaini. The retailer currently operates 72 stores across 16 counties and records approximately five million customer transactions every month.

The company reported Sh50.4 billion in revenue for the year ended December 2025, while adjusted profit after tax stood at Sh1.7 billion. Revenue grew at a compound annual rate of 18.4 per cent between 2021 and 2025. 

Quickmart says it intends to continue expanding its store network, targeting 10 to 15 new stores annually while investing in its online offering, delivery partnerships and operational efficiency. 

The retailer is also targeting a dividend payout ratio of at least 80 per cent of annual profit after tax, although the company notes that any dividend will depend on its financial performance, capital requirements and other applicable considerations. 

The proposed NSE listing is still subject to the necessary approvals from the Capital Markets Authority (CMA) and the Nairobi Securities Exchange.

Quickmart has submitted its application and related documentation to the regulators. The offer is currently expected to launch around September 30, 2026, with the final timetable and terms expected to be contained in the Information Memorandum. 

If completed, the transaction would make Quickmart one of the latest major Kenyan companies to access the public capital markets and would give eligible investors an opportunity to acquire shares in the growing supermarket chain.