Kenyan supermarket chain Quickmart is planning to sell up to a 57.5 percent stake through the Nairobi Securities Exchange (NSE), giving investors an opportunity to own part of one of the country’s largest retail chains.
The proposed transaction will initially involve the sale of 2 billion existing shares, equivalent to a 50 percent stake, by Sokoni Retail Kenya Limited (SRKL), Quickmart’s holding company. An additional 7.5 percent could be sold if demand is strong.
The offer is expected to launch around September 30, 2026, subject to approval by the Capital Markets Authority (CMA) and the NSE. Quickmart itself will not receive proceeds because the transaction involves existing shares rather than newly issued shares.
If the additional shares are not sold, SRKL is expected to retain approximately 50 percent of Quickmart. If the full 7.5 percent over-allotment is exercised, its remaining stake would fall to about 42.5 percent.
Quickmart reported Sh50.4 billion in sales in 2024, up from Sh29.3 billion in 2021. The retailer currently operates 72 branches across 16 counties and plans to continue expanding its store network.
The company also intends to target a dividend payout of at least 80 percent of annual profit after tax, with dividends targeted for payment twice a year, subject to financial performance, capital requirements and other considerations.
The listing would make Quickmart the second listed supermarket on the NSE, alongside Uchumi. For private-equity investor Adenia and Quickmart’s other existing shareholders, the transaction provides a partial exit while allowing them to retain a substantial interest in the retailer.
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