Supermarket chain plans to offer up to 57.5% stake as it opens ownership to the public
Quickmart is preparing to open a new chapter in its growth story with a proposed listing on the Nairobi Securities Exchange (NSE) that could see the public acquire up to 57.5 per cent of the supermarket chain.
The retailer plans to list on the NSE’s Main Investment Market Segment through an offer for sale by its sole shareholder, Sokoni Retail Kenya Limited (SRKL). The initial offer comprises 2 billion existing ordinary shares, equivalent to 50 per cent of Quickmart’s issued share capital, with an additional 7.5 per cent potentially available through an over-allotment option if demand warrants it.
The transaction is significant because it is not a fundraising exercise for Quickmart. The supermarket will not issue new shares or receive proceeds from the sale. Instead, the proceeds will go to SRKL and its existing shareholders, providing them with an opportunity to partially realise their investment while broadening ownership of the retailer.
From Nakuru to National Reach
Founded in Nakuru in 2006, Quickmart has grown from a single store into a national retail network. The company currently operates 72 outlets across 16 counties, positioning it among Kenya’s major supermarket chains.
Its expansion accelerated following the involvement of private equity investor Adenia and the combination of Quickmart and Tumaini Supermarket. The resulting business has continued to expand its physical stores while investing in digital retail, delivery and customer loyalty.
The company’s financial performance has also expanded alongside its store network. Quickmart reported KSh50.4 billion in revenue in 2025, while its reported profit after tax was approximately KSh1.51 billion. In the first half of 2026, the retailer recorded approximately KSh27.3 billion in revenue and KSh873 million in profit after tax.
What the Listing Means
For Kenya’s capital markets, the proposed listing adds another large consumer-facing company to the public market and broadens investment opportunities beyond the traditionally dominant banking, telecommunications and industrial counters.
For Quickmart, the move is also about establishing a wider ownership base and strengthening the company’s profile as it continues its expansion.
The company has indicated that it intends to continue funding store expansion primarily through internally generated cash flows, rather than relying on proceeds from the share sale. Its strategy includes opening additional outlets while expanding its digital and delivery capabilities.
Quickmart has also announced an intended dividend policy targeting at least 80 per cent of annual profit after tax, with dividends expected to be paid semi-annually, subject to the company’s financial position, capital requirements and other considerations. The company has projected approximately KSh2 billion in dividends for 2026 and KSh2.5 billion for 2027, although these remain targets rather than guaranteed payments.
The proposed offer is currently expected to launch around September 30, 2026, subject to the necessary regulatory approvals and final offer terms. Quickmart’s official IPO information stresses that the current announcement is an Intention to Float, rather than an open share offer.
If completed, the transaction will mark a significant milestone for one of Kenya’s most recognisable homegrown retail brands—taking Quickmart from its origins as a Nakuru supermarket to a publicly owned company with potentially thousands of Kenyan investors holding a stake in its future.
