Quickmart PLC has opened its Initial Public Offering (IPO), offering 2 billion ordinary shares to the public as the retailer prepares to list on the Nairobi Securities Exchange (NSE).
The offer opened on October 5, 2026, at 9:00 a.m. and will close on October 30 at 5:00 p.m.
The shares are being offered at Ksh7.50 each, putting the total offer value at Ksh15 billion and giving the company an implied market capitalization of Ksh30 billion.
Additionally, the 2 billion shares represent 50 percent of Quickmart’s issued share capital. There is no maximum application limit, while investors must apply for at least 500 shares and make subsequent applications in multiples of 100 shares.
At the minimum application, an investor would need Ksh3,750 to purchase 500 shares at the offer price of Ksh7.50 per share.
The offer does not include an over-allotment option and is not underwritten. Applicants must also have valid Central Depository and Settlement Corporation (CDS) accounts before the shares can be credited.
The offer is subject to a minimum subscription condition requiring valid applications for at least 75 percent of the shares offered.
This translates to 1.5 billion shares out of the 2 billion shares on offer. If the threshold is not achieved, the offer will not proceed and application monies will be refunded without interest.
International Finance Corporation (IFC) has conditionally committed to purchase up to USD15 million, approximately Ksh1.94 billion, worth of Quickmart shares. The commitment represents up to 13 percent of the offer shares and 6.5 percent of the company’s outstanding share capital.
The IFC investment is subject to approval by its board of directors. Its participation does not constitute or imply a recommendation or endorsement of Quickmart, the offer or the shares.
How Kenyans Can Apply for QuickMart’s IPO
Investors can apply electronically through Quickmart’s designated IPO application and payment platform.
Applicants using the electronic option must complete and submit the application, upload the required supporting documents, and make payment through the designated platform.
Investors can also apply by dialing *483*803# on their mobile phones. The USSD option is available only to investors applying for Offer Shares with an aggregate value of up to Ksh250,000.
Physical applications must be submitted no later than 5:00 p.m. on October 30, the closing date of the offer.
QuickMart is expected to announce the IPO results and notify investors of their allocations on November 6.
Qualified institutional investors will have November 10 as the payment date, while November 11 will be the allotment date, when offer shares will be credited to investors’ CDS accounts and refunds processed where applicable.
The company is scheduled to list on the NSE on November 12, when trading in its shares is expected to begin.
Quickmart has cautioned that the timetable may change. Any amendments will be published in the press and on the company’s website.
About Advisors
SBG Securities is serving as the lead transaction adviser, sponsoring broker and lead placing agent.
Stanbic Bank is the receiving bank, while Bowmans is the legal adviser and EY is the reporting accountant.
Dyer & Blair Investment Bank is the co-placing agent, Creide is the public relations agency, Image Registrars is the data processing agent and share registrar, while Adili Group is the corporate governance adviser.
The Capital Markets Authority’s approval of the offer and Information Memorandum does not amount to a recommendation or endorsement of Quickmart or its shares.
Prospective investors have been advised to read the full Information Memorandum and consult their professional advisers before making an investment decision.
The selling shareholder will also be subject to a 24-month lock-up period beginning on the date Quickmart is listed on the NSE, covering 60 percent of its post-offer shareholding.
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