Quickmart's KSh15bn initial public offering has been oversubscribed, drawing applications worth KSh18.41bn ahead of the supermarket chain's planned debut on the Nairobi Securities Exchange on 12 November.

The company said it received 18,492 applications for 2.45 billion shares, against the two billion shares on offer at KSh7.50 each. That represented an overall subscription level of 122.7%, with demand exceeding the shares available by 454.6 million.

Allocation and listing

Kenyan and East African Community retail investors received every share they applied for, while foreign investors, who submitted applications worth KSh3.58bn, received 49.5% of the shares they sought. Founder shareholders who applied received no allocation because of the oversubscription.

The offer was a sale of existing shares by Sokoni Retail Kenya Limited, the retailer's sole shareholder, rather than an issue of new shares by Quickmart itself. Net proceeds of about KSh14.4bn will go to Sokoni Retail Kenya, which will retain a 50% stake after the listing.

Scale of the business

All four billion issued shares will list on the Main Investment Market Segment of the Nairobi Securities Exchange. Quickmart reported revenue of KSh50.43bn for its 2025 financial year, underlining the scale of the grocery business behind the listing.

The offer ran from 5 October to 30 October 2026. Qualified institutional investors have until 10 November to make payment, and public trading is scheduled to begin on 12 November.