Quickmart PLC, one of Kenya’s largest modern grocery retailers, plans to list its shares on the Main Investment Market Segment of the Nairobi Securities Exchange (NSE), opening the supermarket chain’s ownership to Kenyan and other eligible investors.
The proposed Quickmart listing will involve the sale of existing shares rather than the issuance of new shares. Quickmart’s current sole shareholder, Sokoni Retail Kenya Limited (SRKL), plans to offer 2 billion ordinary shares, representing 50% of Quickmart’s issued share capital.
The proposed offer remains subject to regulatory approvals and other applicable conditions. Quickmart expects the offer to launch on or around September 30, 2026, with the specific timetable and terms to be provided in the Information Memorandum.
What is the Quickmart IPO?
Although commonly described as a Quickmart IPO, the proposed transaction is technically an offer for sale of existing shares.
SRKL currently owns 100% of Quickmart. Under the proposed offer, it will sell 2 billion existing ordinary shares, representing 50% of the company’s issued share capital.
Quickmart itself will not issue new shares as part of the transaction. This means Quickmart will not receive the proceeds from the share sale. Instead, the proceeds will go to the selling shareholder.
The offer is also expected to include an over-allotment option of up to 15% of the Offer Shares, subject to the terms that will be contained in the Information Memorandum.
When will Quickmart list on the NSE?
Quickmart has announced its intention to list on the Main Investment Market Segment of the Nairobi Securities Exchange. The proposed offer is currently expected to launch on or around September 30, 2026.
However, the transaction is not yet final. Quickmart has submitted its application and related documentation to the Capital Markets Authority (CMA) and the NSE, and the offer remains subject to the required regulatory approvals and other applicable conditions.
Further information on the offer price, timetable, eligibility, financial information, risk factors and other terms is expected to be provided in the Information Memorandum.
How many Quickmart shares will be offered?
SRKL plans to sell 2 billion existing ordinary shares in Quickmart. Each share has a nominal value of KES 0.20, and the shares being offered represent 50% of Quickmart’s issued share capital. An additional over-allotment option of up to 15% of the Offer Shares is expected to be available.
If the over-allotment option is not exercised, SRKL is expected to retain approximately 50% of Quickmart following completion of the offer. If the option is exercised in full, SRKL’s remaining shareholding is expected to fall to approximately 42.5%.
Will Quickmart raise money from the listing?
No. The proposed transaction is structured as an offer for sale, meaning existing shares are being sold by SRKL rather than new shares being issued by Quickmart. As a result, Quickmart will not receive proceeds from the offer and will not raise new capital through the listing.
The company says it expects to continue funding its organic growth and store expansion primarily through internally generated cash flows. This distinction is important for investors because the transaction broadens ownership of Quickmart without providing the company itself with new funds from the share sale.
How big is Quickmart?
Quickmart was founded in Nakuru in 2006 and has grown into a nationwide grocery retailer. The company currently operates 72 stores across 16 counties, covering Hypermarket, Supermarket and Express formats.
Its store network expanded from 64 stores at the end of 2025 to 68 stores by June 30, 2026. Four additional stores have since opened, bringing the total to 72. Of the 72 stores, 35 operate on a 24-hour basis.
The company is targeting 10 to 15 new stores a year as part of its 2026-2030 growth strategy. The expansion is expected to focus on urban, peri-urban, regional and coastal markets.
Quickmart recorded approximately 5 million customer transactions per month on average during the first six months of 2026 and has approximately 2.5 million Q-Points loyalty members.
Loyalty members accounted for approximately 74% of sales during FY2025 and the first half of 2026. The company says it is the second-largest modern grocery retailer in Kenya by store count and turnover, with an estimated 15% share of the modern grocery retail market.
How much revenue does Quickmart make?
Quickmart reported KES 50.4 billion in revenue and KES 1.7 billion in adjusted profit after tax for FY2025, according to the detailed financial section of the announcement.
Revenue grew at a compound annual growth rate of 18.4% between FY2021 and FY2025. The company recorded KES 27.3 billion in revenue during the first six months of 2026.
The announcement’s highlights section separately gives FY2025 revenue as KES 58.4 billion, creating a discrepancy with the detailed financial section, which states KES 50.4 billion. The final Information Memorandum will be important for confirming the relevant financial figures.
What is Quickmart’s growth strategy?
Quickmart’s strategy for 2026 to 2030 is built around continued expansion of its store network and growth in customer sales.
The company also plans to strengthen its online offering and partnerships with delivery platforms while improving category management and operating efficiency.
Quickmart is targeting more than 100 stores in Kenya over the medium term. The company says customer growth, digital development and operational efficiency will support its expansion.
How does Quickmart plan to fund its expansion?
Quickmart says it operates an asset-light retail model in which its stores are leased rather than owned. The company also uses a largely supplier-led direct-to-store distribution model.
According to the announcement, rapid inventory turnover and working capital management have supported operating cash conversion, allowing Quickmart to finance expansion while maintaining financial flexibility.
Because the proposed listing does not involve the issuance of new shares, Quickmart will not receive IPO proceeds to fund its expansion. Instead, the company expects to rely primarily on internally generated cash flows for organic growth and store expansion.
What dividend could Quickmart shareholders receive?
Following the listing, Quickmart’s board intends to target a dividend payout ratio of at least 80% of annual profit after tax. The company intends for dividends to be paid semi-annually.
However, the 80% figure is a target, not a guaranteed distribution. Any dividend will depend on Quickmart’s financial performance, capital requirements, growth opportunities, applicable legal and regulatory requirements and the board’s discretion.
Quickmart expects to pay an initial dividend relating to the second half of 2026 in the first half of 2027, subject to the applicable conditions.