HeadlinesBriefing favicon HeadlinesBriefing.com

Quickmart Plans Nairobi IPO as Owner Sells 50% Stake

Bloomberg Markets •
×

Kenya's Quickmart Plc plans to list on the main market of the Nairobi Securities Exchange as sole owner Sokoni Retail Kenya Ltd. offers 2 billion shares, representing half its stake. The offer includes an over-allotment option of up to 15% of shares. Quickmart will not issue new stock or receive proceeds from the sale.

The supermarket chain operates 72 stores and targets 100 outlets in Kenya over the medium term, funding expansion through internally generated cash flows. Revenue reached 50.4 billion shillings ($389 million) in the 2025 financial year, with adjusted profit after tax of 1.7 billion shillings. Revenue grew at an 18% compounded annual rate over five years.

The company traces its origins to a retailer founded in Nakuru in 2006 by the late John Kinuthia, and Tumaini Stores, started in Nairobi the same year. Following investments by Mauritius-based Adenia Partners, the two businesses merged in January 2020 under the Quickmart brand. Sokoni is the investment vehicle for Adenia, the founders, and the group CEO, with Adenia holding a controlling stake.

Post-listing, the board targets a dividend-payout ratio of at least 80% of annual profit after tax, with an initial dividend expected for H2 2026 paid in H1 2027.