Kenyan supermarket chain Quickmart PLC has announced plans to list its shares on the Main Investment Market Segment of the Nairobi Securities Exchange (NSE), in a move that would open ownership of the retailer to Kenyan and other eligible investors.
The proposed listing, announced on Wednesday, September 23, 2026, will involve the sale of 2 billion existing ordinary shares, equivalent to 50 per cent of Quickmart’s issued share capital.
The shares will be offered by Sokoni Retail Kenya Limited (SRKL), Quickmart’s current sole shareholder.
Quickmart will not issue new shares and will not receive any proceeds from the offer. Instead, the transaction will allow existing shareholders to sell part of their investment while creating a public shareholding in the supermarket chain.
The offer is expected to include an over-allotment option of up to 15 per cent of the offer shares, subject to the terms to be contained in the Information Memorandum.
The proposed transaction remains subject to regulatory approvals and other applicable conditions. Quickmart said the offer is currently expected to launch on or around September 30, 2026.
The company has submitted its application and related documentation to the Capital Markets Authority (CMA) and the NSE.
Quickmart targets more than 100 stores
Founded in Nakuru in 2006, Quickmart has grown into one of Kenya’s largest modern grocery retailers.
The company currently operates 72 stores across 16 counties, including hypermarket, supermarket and express formats. Of these, 35 operate on a 24-hour basis.
Quickmart said it recorded approximately five million customer transactions per month during the first six months of 2026 and has about 2.5 million Q-Points loyalty members.
Loyalty customers accounted for approximately 74 per cent of the retailer’s sales during 2025 and the first half of 2026.
The retailer generated Sh50.4 billion in revenue in 2025, with an adjusted profit after tax of Sh1.7 billion.
Its revenue grew at a compound annual growth rate of 18.4 per cent between 2021 and 2025, while revenue for the first six months of 2026 stood at Sh27.3 billion.
The company is targeting more than 100 stores in Kenya over the medium term, with plans to open between 10 and 15 new outlets annually.
The expansion strategy will focus on urban, peri-urban, regional and coastal markets.
Quickmart said its 2026-2030 growth strategy will also focus on increasing like-for-like sales, strengthening its online offering and delivery partnerships, improving category management and operational efficiency, and maintaining disciplined capital allocation.
Shareholder to retain significant stake
SRKL currently owns 100 per cent of Quickmart.
Following the offer, SRKL is expected to retain approximately 50 per cent of Quickmart if the over-allotment option is not exercised.
If the over-allotment option is exercised in full, its stake would fall to approximately 42.5 per cent.
The company said the shares being sold by SRKL would be offered in a manner resulting in a pro-rata partial exit by the shareholders of the investment vehicle.
Adenia Partners invested in Quickmart and Tumaini, which merged and rebranded as Quickmart in 2020.
Quickmart targets 80% dividend payout
Following the listing, Quickmart’s board intends to target a dividend payout ratio of at least 80 per cent of annual profit after tax, with dividends expected to be paid semi-annually.
The company, however, stressed that the proposed payout is a target and not a guaranteed distribution. Any dividend would remain subject to the company’s financial performance, capital requirements, growth opportunities, as well as applicable legal and regulatory requirements.
Quickmart expects to pay an initial dividend relating to the second half of 2026 during the first half of 2027.
Group Chief Executive Officer Peter Kang’iri said the proposed listing would give Kenyans an opportunity to own part of a business they already interact with as customers.
“Listing on the NSE will give Kenyans the opportunity to own a share of a business they already shop in, while raising our profile with suppliers and partners as we continue to deliver on our growth strategy,” Kang’iri said.
Adenia Partners Partner Martha Osier said the proposed listing was the next stage in Quickmart’s development following years of expansion and institutionalisation.
The planned transaction would broaden the retailer’s ownership base, create a public free float and allow eligible investors to participate in the company’s future growth.
Quickmart operates an asset-light model, with its stores primarily leased rather than owned. The company said its supplier-led direct-to-store distribution model, rapid inventory turnover and working-capital management have supported its cash generation and expansion.
If approved and completed, the listing would make Quickmart one of the latest major Kenyan consumer-facing businesses to access the NSE’s public capital markets.
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