Quick Mart Plc IPO Oversubscribed by 23 Percent

Quick Mart Plc, Kenya's second-largest supermarket chain, concluded its initial public offering with investor demand exceeding available shares by nearly 23 percent. Investors applied for 2.45 billion shares at 7.50 shillings each, while the company offered 2 billion shares.

The IPO serves as an exit route for current investors rather than a capital raise, as the company will not issue new stock or receive proceeds from the sale. Sokoni Retail Kenya Ltd., the sole owner and vehicle for founder John Kinuthia and Adenia Partners, is selling half of its stake in the company.

Four cornerstone investors supported the offering, including RWC Asset Management LLP, 337 Frontier, the International Finance Corp., and the UK's Foreign, Commonwealth and Development Office. Shares are scheduled to begin trading on the Nairobi Securities Exchange on November 12, 2026.