Quickmart PLC has announced its intention to list on the Main Investment Market Segment of the Nairobi Securities Exchange (NSE). The retail giant is offering 2 billion ordinary shares at a nominal value of KSh 0.2 each, equivalent to 50% of the company's issued share capital. The offer is structured as a sale of existing shares by Quickmart's sole shareholder, Sokoni Retail Kenya Limited (SRKL).
The offer includes an over-allotment option of up to 15% of the shares on offer. If this option is not exercised, SRKL will retain approximately 50% of the company following completion. Should the option be exercised in full, SRKL's remaining stake would fall to approximately 42.5%. The offer is expected to launch on or around September 30, 2026, subject to regulatory approvals from the Capital Markets Authority and the NSE.
Peter Kang'iri, Group Chief Executive Officer of Quickmart, said the listing represents a significant moment for the business. He stated that listing on the NSE will give Kenyans the opportunity to own a share of a business they already shop in, while raising their profile with suppliers and partners as they continue to deliver on their growth strategy.
Quickmart is the second-largest modern grocery retailer in Kenya by store count and turnover, holding an estimated 15% share of the modern grocery retail market. The company currently operates 72 stores across 16 counties, including hypermarket, supermarket, and express-format outlets, of which 35 run on a 24-hour basis.
For the year ended December 31, 2025, Quickmart posted revenue of KSh 50.4 billion and an adjusted profit after tax of KSh 1.7 billion, with revenue growing at a compound annual growth rate of 18.4% between 2021 and 2025. Revenue for the first half of 2026 reached KSh 27.3 billion.
The company records approximately 5 million customer transactions per month and has around 2.5 million Q-Points loyalty members, who accounted for roughly 74% of sales in 2025 and the first half of 2026. Following the listing, the board intends to target a dividend payout ratio of at least 80% of annual profit after tax, paid semi-annually.
Quickmart plans to open 10 to 15 new stores per year, with a medium-term target of more than 100 stores nationwide. In related news, Nigerian billionaire Aliko Dangote launched an IPO for his Lagos-based oil refinery on September 14, 2026, offering 4.1 billion shares at 525 naira each, with investors able to buy a minimum of 10 shares.
Key points
- Quickmart PLC plans to list on the Nairobi Securities Exchange, offering 2 billion shares representing 50% of its issued share capital.
- The company has recorded significant growth, with revenue reaching KSh 50.4 billion in 2025 and KSh 27.3 billion in the first half of 2026.
- Quickmart aims to open 10 to 15 new stores per year, targeting over 100 stores nationwide in the medium term.
