Kenyan retail giant, Quickmart is set to join the Nairobi Securities Exchange (NSE) in a major retail-sector listing that will give investors an opportunity to own a stake in one of Kenya’s largest supermarket chains.
The company announced on Wednesday, September 23, 2026, that it intends to list on the Main Investment Market Segment of the NSE through an offer for sale by its sole shareholder, Sokoni Retail Kenya Limited.
Under the proposed offer, 2 billion existing Quickmart shares, representing 50% of the company, will be offered to investors.
The offer is expected to open on or around September 30, 2026, subject to regulatory approvals and other applicable conditions.
The listing would provide a partial exit for Adenia Partners, Quickmart and Tumaini founders and CEO Peter Kang’iri, who hold interests through Sokoni.
Quickmart Puts 50% Stake Up for Sale in Major NSE Listing
Quickmart will not issue new shares and will not receive proceeds from the transaction. The money raised will instead go to Sokoni Retail Kenya.
An over-allotment option of up to 15% of the offer shares could reduce Sokoni’s post-IPO stake from 50% to about 42.5%.
The IPO marks the latest stage in a retail consolidation strategy that began in 2018 when Adenia Partners invested in Tumaini Self Service through Sokoni.
Adenia subsequently invested in Quickmart in 2019, after which the two businesses were combined under the Quickmart brand. Adenia’s disclosures show Tumaini had nine stores when acquired in 2018 and Quickmart had 10 when acquired in 2019.
Competition Authority of Kenya (CAK) approved an investment of more than KSh 2 billion by Sokoni in Quickmart, paving the way for the combination with Tumaini. At the time, the businesses together operated more than 25 outlets.
The planned listing would broaden ownership of the supermarket chain and create a public free float on the NSE, while Quickmart plans to continue financing its expansion largely from internally generated cash flows.
Quickmart Chief Executive Officer Peter Kang’iri said the listing would mark a new phase for the retailer after years of expansion across the country.
Kang’iri said the company had continued investing in its stores, employees and technology while focusing on price, convenience and freshness.
“The proposed Listing marks an important milestone in Quickmart’s journey. Over the past two decades, we have built one of Kenya’s leading modern grocery retailers, serving millions of customers across 16 counties.”
“Listing on the NSE will give Kenyans the opportunity to own a share of a business they already shop in, while raising our profile with suppliers and partners as we continue to deliver on our growth strategy.”
Quickmart Sets 80% Dividend Target Ahead of NSE Listing
The company also plans to introduce a significant dividend policy following the listing.
Quickmart said its board intends to target a dividend payout ratio of at least 80% of annual profit after tax, with dividends expected to be paid twice a year. The policy will remain subject to the company’s financial performance, capital requirements and board discretion.
The company expects to pay its initial dividend for the second half of 2026 during the first half of 2027.
Founded in Nakuru in 2006, Quickmart has grown from a single store into a national supermarket chain.
The company currently operates 72 stores across 16 counties, including hypermarket, supermarket and express formats.
Quickmart recorded approximately 5 million customer transactions per month during the first six months of 2026 and has about 2.5 million Q-Points loyalty members.
For the year ended December 31, 2025, the retailer reported KES 50.4 billion in revenue and adjusted profit after tax of KES 1.7 billion.
Revenue grew at a compound annual growth rate of 18.4% between FY2021 and FY2025, while revenue for the first six months of 2026 stood at KES 27.3 billion.
The supermarket chain had 64 stores at the end of 2025 and increased this to 68 by June 30, 2026. Four additional outlets have since been opened, bringing the network to 72.
Retail Giant Reveals Growth Plans
Quickmart is targeting 10 to 15 new stores annually as it seeks to surpass 100 outlets in Kenya over the medium term.
Its 2026–2030 growth strategy includes expanding its store network, growing like-for-like sales, strengthening its online business and delivery partnerships, improving category management and increasing operational efficiency.
The proposed listing comes as the NSE continues efforts to deepen Kenya’s capital markets and attract more companies to the exchange. NSE Chief Executive Officer Frank Mwiti has previously said Kenya should position its capital markets as a destination for long-term investment.
The offer remains subject to the required regulatory approvals, with full details on the offer price, timetable and other terms expected to be contained in the Information Memorandum.
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