Retailer Quickmart eyes NSE listing in September

Retailer Quickmart has announced its plan to list on the Main Investment Market Segment of the Nairobi bourse, a move that would open up ownership of one of Kenya's largest supermarket chains to members of the public and other investors.

In a statement issued on Wednesday, Quickmart said the proposed listing on the Securities Exchange (NSE) would "broaden its ownership base and create a meaningful public free float".

The company intends to sell two billion ordinary shares with a nominal value of Sh0.2 each, representing 50 percent of share capital of sole shareholder Sokoni Retail Kenya Limited (SKRL).

The offer is subject to regulatory approvals, and is currently expected to launch on or around September 30, 2026.

SKRL reckons the move to go public with give the firm an opportunity to realise part of its investment following a period of growth that includes 72 outlets across Kenya.

"Quickmart will not issue any new shares as part of the transaction and will not receive any proceeds from the offer. The company said it expects to continue funding its organic growth and store expansion primarily through internally generated cash flows," it said in the statement. 

"The board intends to target a dividend payout ratio of at least 80 percent of annual profit after tax, paid semi-annually, subject to the company's financial performance, capital requirements and board discretion."

Established in Nakuru in 2006, Quickmart is one of Kenya's largest supermarket chains, alongside Carrefour and Naivas.

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