Quickmart announces plans to list 2 billion shares on NSE

Quickmart has announced plans to list 50 per cent of its shares on the Nairobi Securities Exchange (NSE), opening the supermarket chain to eligible investors.

In an official statement dated Wednesday, September 23, Quickmart said the proposed listing will involve the sale of 2 billion existing shares by Sokoni Retail Kenya Limited (SKRL), the company that currently owns all of Quickmart's shares.

Quickmart itself will not receive money from the sale because no new shares are being created.

The planned sale is subject to approval by the Capital Markets Authority (CMA) and the NSE. Quickmart expects the offer to launch around September 30, 2026, with the exact terms and timetable to be provided in an Information Memorandum.

The transaction will allow members of the public and other eligible investors to buy a stake in Quickmart from its existing owner. It is therefore different from a typical share sale where a company creates new shares to raise money for expansion.

Quickmart said it will continue to finance its expansion mainly using money generated from its business operations.

"Quickmart will not issue any new shares and will not receive any proceeds from the Offer. The Company expects to continue funding its organic growth and store expansion primarily through internally generated cash flows," the statement read in part.

The supermarket currently operates 72 stores across 16 counties and records about five million customer transactions every month. It has approximately 2.5 million members of its Q-Points loyalty programme.

Quickmart reported revenue of Ksh.50.4 billion in 2025 and an adjusted profit after tax of Ksh.1.7 billion. Its revenue grew at an average annual rate of 18.4 per cent between 2021 and 2025.

In the first six months of 2026, the retailer recorded revenue of Ksh.27.3 billion. Its store network grew from 64 outlets at the end of 2025 to 68 by June 2026, with four more stores subsequently opened.

Quickmart is targeting between 10 and 15 new stores every year between 2026 and 2030 as it expands its presence in urban, peri-urban, regional and coastal markets.

Following the listing, the company's board intends to target paying shareholders at least 80 per cent of its annual profit after tax in dividends, paid twice a year.

However, the company says this is only a target and will depend on its financial performance, capital needs, growth plans and applicable regulations.

For the existing owners, the proposed listing provides an opportunity to sell part of their investment while still retaining a significant stake in the business.

If the additional over-allotment option is not exercised, Sokoni Retail Kenya Limited is expected to retain about 50 per cent of Quickmart after the sale. If the option is fully exercised, its stake would fall to about 42.5 per cent.

"The proposed listing ...will broaden ownership of the Company, introduce a public free float and enable Kenyan and other eligible investors to participate in Quickmart’s future growth. The existing shareholder group intends to retain a substantial interest in the Company following the Offer, reflecting our continued confidence in the Company and its long-term prospects,” Martha Osier, Partner at Adenia Partners, stated.

Quickmart was founded in Nakuru in 2006 and later merged with Tumaini Stores in 2020 under the Quickmart brand. The company says the proposed NSE listing is intended to broaden its ownership and allow investors to participate in its future growth.