Sokoni Retail Kenya Limited, the owner of Quickmart, Kenya's second-largest retailer, has announced plans to list 100% of its ordinary shares on the Nairobi Security Exchange by the end of this month. The retailer has filed its draft information memorandum and submitted its application to the Capital Markets Authority and NSE for approval and admission on the Main Investment Market Segment of NSE. This move is expected to strengthen Quickmart's footprint across the country.
Quickmart proposes to sell 2 billion of its ordinary shares, equivalent to 50% of the issued ordinary share capital, by way of an offer for sale. If the over-allotment option is exercised in full, the remaining shareholding would reduce to approximately 42.5%. The offer targets retail investors and institutional investors in Kenya, investors in East African Community Partner States, and foreign investors in other markets.
According to Quickmart Chief Executive Officer Peter Kang'iri, the listing marks an important milestone for the retailer as it seeks to broaden ownership and introduce a public free float. This will enable Kenyan and other eligible investors to participate in Quickmart's future growth. Kang'iri also stated that listing on the NSE will give Kenyans the opportunity to own a share of a business they already shop in.
Martha Osier, Partner at Adenia Partners, an investor in the retailer, said the proposed listing represents a natural next step in Quickmart's journey. The existing shareholder group intends to retain a substantial interest in the company following the offer, reflecting their continued confidence in the company and its long-term prospects.
As of June 30, 2026, Quickmart had borrowings of Ksh 6.8 million and cash and cash equivalents and short-term deposits amounting to Ksh 700.2 million, representing a net cash position of Ksh 0.7 billion, and net assets of Ksh 1.9 billion. SBG Securities Limited and Stanbic Bank Kenya Limited have been appointed as lead transaction advisers, while Dyer and Blair Investment Bank Limited is the co-placing agent.
The listing is expected to raise Quickmart's profile with suppliers and partners as it continues to deliver on its growth strategy. Kang'iri expressed pride in what the teams have built and excitement about the opportunities that lie ahead. The move is also seen as a way to strengthen the company's position in the market.
Quickmart's plans to list on the NSE have been well-received by investors and market analysts. The company's growth strategy and strong financial position are expected to attract investors. The listing is also seen as a positive development for the Kenyan capital markets, as it is expected to increase investor participation and deepen the market.
Key points
- Quickmart to list 100% of ordinary shares on NSE
- Listing expected to strengthen Quickmart's footprint across Kenya
- Offer targets retail and institutional investors in Kenya and beyond
