Quickmart Lists on NSE as Share Demand Tops Offer Size

Quickmart has joined the Nairobi Securities Exchange (NSE). Trading opened at an average share price of Ksh10. The NSE welcomed the Nakuru-born supermarket chain in a statement on Thursday, November 12, 2026.

The listing marks a big step for the retailer. It began as a local shop in Nakuru and has grown into one of Kenya's leading supermarket chains. The NSE says the move shows how entrepreneurship and strategic ambition can drive business success.

Capital Markets Authority Chairman Ugas Mohamed praised the deal. He said demand exceeded the number of shares on offer. Strong interest came from every category of investor, he noted.

Mohamed urged Quickmart to keep up its performance. He called for strong governance and clear communication with shareholders. He also said a listing could help ordinary Kenyans invest in businesses they know.

Trade CS Lee Kinyanjui also celebrated the milestone. He noted that most of Kenya's major retail chains began in Nakuru. The only exception, he said, is Uchumi. He described the listing as proof that a Kenyan family business can become a public institution.

British Deputy High Commissioner Diana Dalton said the UK helped support the listing. The support came through MOBILIST, a global programme that helps growing firms list on public markets. She called the milestone a sign of strong trade ties between Britain and Kenya.

Martha Osier of Adenia Partners spoke about her firm's early backing. Adenia was the first investor to put money into Quickmart. Osier said the firm believed strong management could help the company grow and create jobs. She added that the heavy demand shows growing trust in Kenya's markets.

The IPO drew applications worth Ksh18.4 billion. Quickmart received 18,492 applications for about 2.45 billion shares. The company had offered 2 billion shares for sale. The sale was made by its majority shareholder, Sokoni Retail Kenya Limited.

The shares were priced at Ksh7.50 each. The deal was valued at Ksh15 billion. Demand stood at 122.7 per cent of the shares offered.

Kenyan and East African Community retail investors received every share they applied for. Local and regional institutional investors were also fully allocated. Cornerstone investors received 90.1 per cent of their requests. Foreign investors received about 49.5 per cent on average.

Among the foreign investors, the International Finance Corporation received 258 million shares. It had applied for 266.7 million. 337 Frontier received its full request of 259.7 million shares. RWC Asset Management was allocated all 173.15 million shares it sought.