Table of Contents
The Quickmart IPO is one of the biggest Kenyan market stories of the year. On 23 September 2026, Quick Mart PLC announced its intention to float on the Nairobi Securities Exchange, offering investors 2 billion existing shares, about half the company, through its owner. It is a rare chance for ordinary Kenyans to own part of a supermarket they already shop in. This explainer breaks down the Quickmart IPO in full: the offer, who is really selling, the audited numbers, the dividends, the risks, and what it means for you.
If you just want the practical steps to apply, see our companion guide on how to buy Quickmart shares in Kenya. This page is the deeper background on the business behind the Quickmart IPO.
| Quickmart IPO: key facts | Detail |
|---|---|
| Company | Quick Mart PLC |
| Type of offer | Offer for sale of existing shares (no new capital raised) |
| Seller | Sokoni Retail Kenya Limited (Adenia Partners-managed) |
| Shares offered | 2 billion (~50%), plus up to 15% over-allotment |
| Market | Main Investment Market Segment, NSE |
| Announced | 23 September 2026 |
| Expected launch | On or around 30 September 2026 |
| Price | KES 7.50 per share |
What is the Quickmart IPO?
The Quickmart IPO is an offer for sale, which is an important distinction. Quickmart’s sole shareholder, Sokoni Retail Kenya Limited (SRKL), is selling 2 billion existing ordinary shares, equal to 50% of the company, on the Main Investment Market Segment of the NSE. There is no over-allotment option. Quickmart is issuing no new shares and will not receive any of the proceeds; the money goes to the selling shareholder, which bears the offer’s costs.
In plain terms, the company is not raising money to grow. Instead, its owner is selling down part of its stake and creating a public free float, so everyday Kenyans and institutions can buy in. After the offer, SRKL keeps about 50% of Quickmart, and it is locked up from selling more shares for a period after listing. Quickmart says it expects to keep funding its store expansion from its own cash flows rather than from the market.
Update: the Quickmart IPO is now live at KES 7.50 a share
The offer is official and priced. On 5 October 2026, Quick Mart PLC opened its IPO with Capital Markets Authority approval, selling 2 billion existing shares at KES 7.50 each. That raises KES 15 billion and puts a market value of about KES 30 billion on the company. The offer runs from 5 to 30 October 2026, with trading on the NSE expected to begin on 12 November 2026.
- Offer price: KES 7.50 per share; minimum 500 shares (KES 3,750), then in multiples of 100.
- Size: 2 billion shares, 50% of the company, raising KES 15 billion. There is no over-allotment option.
- Cornerstone investor: the International Finance Corporation (World Bank Group) has committed up to USD 15 million, about KES 1.94 billion or 13% of the offer.
- Advisers: SBG Securities and Stanbic Bank (lead), Dyer & Blair (co-placing), EY (reporting accountant), Bowmans (legal) and Image Registrars (share registrar).
- Lock-up: the selling shareholder is locked up for 24 months on 60% of its post-offer stake.
- Minimum subscription: the offer needs 75% take-up, or it is called off and applicants are refunded without interest.
At KES 7.50 the company is valued at roughly 17 to 18 times its last full-year profit of about KES 1.7 billion, a full but not extreme price for a fast-growing retailer. For the step-by-step on applying (the e-offer portal, the USSD code *483*803#, the CDS account requirement and the full timetable), see our guide on how to buy Quickmart shares in Kenya.
Who owns Quickmart?
Quickmart as we know it is the product of a 2020 merger. The original Quickmart was founded in Nakuru in 2006 by the late John Kinuthia and his son Duncan Kinuthia. A second chain, Tumaini, was founded the same year in Nairobi’s Eastlands by Joram Ngeruro, Moses Ndlika and Elijah Okello. Investment firm Adenia Partners backed Tumaini in 2018 and Quickmart in 2019, then combined the two with effect from 1 January 2020 and rebranded the merged business as Quickmart.
Today Quickmart is wholly owned by Sokoni Retail Kenya Limited, an investment vehicle whose funds are managed by Adenia Partners, alongside the founders of both original businesses and the group chief executive, who hold their own interests. The shares in this offer are being sold by SRKL in a way that results in a pro-rata partial exit for its shareholders. As Adenia’s Martha Osier put it, the aim from the start was to build “a stronger, more scalable and more institutional business”, and the listing is the next step in that plan.
Quickmart by the numbers
Quickmart is a big, fast-growing business. It runs 72 stores across 16 counties (26 hypermarkets, 28 supermarkets and 14 express stores as at 30 June 2026, plus four opened since), stocks about 40,000 products, and serves roughly 5 million customer transactions a month. Its 2.5 million-member Q-Points loyalty scheme drives about 74% of sales. It uses an asset-light model where every store is leased, which helped it post a 42.8% return on invested capital in 2025.
Here is the audited revenue and profit trend from the announcement’s Reporting Accountant’s Report (figures in KES billion, rounded):
| Year | Revenue | Profit for the year |
|---|---|---|
| FY2021 | 25.7 | 0.18 |
| FY2022 | 34.8 | 0.27 |
| FY2023 | 41.2 | 0.45 |
| FY2024 | 46.7 | 1.13 |
| FY2025 | 50.5 | 1.51 (adjusted 1.71) |
| H1 2026 | 27.3 | 0.87 |
On dividends, Quickmart has paid about KES 1.65 billion for 2025, KES 1.2 billion for 2024, KES 782 million for 2023 and KES 106 million for 2022, roughly KES 3.7 billion over four years. Looking ahead, the company projects dividends of about KES 2.0 billion for 2026 and KES 2.5 billion for 2027 (payout ratios of about 95% and 90%), on projected profits of about KES 2.1 billion and KES 2.85 billion. Those are the company’s own forecasts, not guarantees, but they show why income investors are paying attention to the Quickmart IPO.
Why the Quickmart IPO matters to Kenya
New listings on the NSE have been rare, so a large, profitable consumer brand coming to market is a genuine event. The Quickmart IPO lets ordinary Kenyans own a share of a business they use every week, creates a meaningful public free float, and adds a fast-growing retailer to a market long dominated by banks and Safaricom. It also lands while Kenyan retail investors are unusually engaged, fresh from the recent Dangote Refinery IPO and its share offer for Kenyans, which makes the timing favourable for demand.
For the wider market, a successful Quickmart IPO could encourage other private Kenyan companies to consider listing, deepening the exchange. For you as an investor, it is a chance to add a consumer-sector holding to a portfolio, provided the price is right. If you are still building the basics, our guide on how to build an investment portfolio in Kenya shows where a stock like this fits.
Strengths and risks
The announcement is unusually candid about both sides, and so are we.
The strengths
- A large, growing market with low modern-retail penetration and rising urbanisation.
- Strong brand and loyalty: 2.5 million members driving about 74% of sales.
- Efficient, asset-light model with a 42.8% return on invested capital in 2025.
- Consistent growth and cash generation, with revenue up 18.4% a year since 2021.
- Experienced management and a governance structure built for a listed company.
The risks
- Kenya-only concentration: exposure to local inflation, the shilling, politics and consumer spending.
- Thin retail margins: profit is only about 3% of revenue, so the offer price matters enormously.
- Lease dependency: every store is rented, so rent rises and lease renewals are a real risk.
- Execution risk: growth relies on opening new stores on time and on budget.
- Fierce competition from established chains and new entrants, including discount formats.
Timeline and how to take part
The intention to float was announced on 23 September 2026. The offer is expected to launch on or around 30 September 2026, subject to approvals from the Capital Markets Authority and the NSE, with the price and full terms in the Information Memorandum to follow. SBG Securities (with Stanbic Bank Kenya) is the lead transaction adviser and sponsoring broker, and Dyer & Blair Investment Bank is the co-placing agent.
To take part, you will need a CDS account and a licensed NSE stockbroker, then you apply during the offer window. Our step-by-step guide on how to buy Quickmart shares in Kenya covers the whole process, and our roundup of the best stockbrokers in Kenya helps you choose where to apply.
Frequently asked questions
When is the Quickmart IPO?
Quickmart announced its intention to float on 23 September 2026, and the offer is expected to launch on or around 30 September 2026, subject to regulatory approval. The exact dates and price will be confirmed in the Information Memorandum.
How much is the Quickmart IPO raising?
Quickmart itself is raising nothing. This is an offer for sale of 2 billion existing shares (about 50%) by its owner, Sokoni Retail Kenya Limited, and the offer raises about KES 15 billion at KES 7.50 a share. The proceeds go to the selling shareholder, not to the company.
Is the Quickmart IPO a good investment?
Quickmart is a large, growing, profitable retailer with a generous dividend policy, but whether the IPO is a good buy depends entirely on the offer price, which is not yet public. Weigh the strengths against the risks (thin margins, Kenya-only exposure, leased stores) once the price is announced. This is not financial advice.
Where will Quickmart list?
Quickmart intends to list on the Main Investment Market Segment of the Nairobi Securities Exchange, once the offer closes and regulatory approvals are in place.
Disclaimer: The content on Sarafu is for educational and informational purposes only. It does not constitute financial, investment, or professional advice. Figures are drawn from Quick Mart PLC’s intention-to-float announcement of 23 September 2026 and are subject to regulatory approval and the final Information Memorandum. Projected figures are the company’s own estimates and the offer price is not yet public. Always do your own research, read the official offer document, and consider consulting a licensed financial advisor before making any decision.
