Quickmart, a Kenyan retailer, plans to go public on the Nairobi Securities Exchange, with shares expected to be offered around September 30. The company revealed this listing plan on September 23.
The listing will see Kenya’s second-largest grocery retailer issue its shares on the Main Investment Market Segment of the Kenyan market, pending regulatory approvals. 50% of the company’s shares will be offered for sale, amounting to two billion ordinary shares at a value of KES 0.2 per share.
The listing will make Adenia Partners the first private equity fund to exit a Kenyan company via a listing on a securities exchange. Bowmans advised Quickmart and its sole owner Sokoni Retail Kenya Limited on the listing.
Quickmart CEO Peter Kang’iri said: “Listing on the NSE will give Kenyans the opportunity to own a share of a business they already shop in, while raising our profile with suppliers and partners as we continue to deliver on our growth strategy.”
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The company has steadily expanded its national footprint, strengthened its operating platform, and continued to invest in its stores, people, and technology. Quickmart was launched in 2006 and merged with retail chain Tumaini in 2020, keeping the Quickmart name.
They have confirmed their intention to grow their footprint by over 100 stores across Kenya in the medium term, at a pace of 10 to 15 store openings per year. However, Quickmart will not receive any returns from the shares offer, with the company expected to fund its expansion through internally generated cash flows.
The company reported revenue of KES 50.4 billion (USD 385 million) and adjusted profit after tax of KES 1.7 billion (USD 13 million) in 2025, and revenue of KES 27.3 billion (USD 210 million) over the first six months of 2026. This growth is a result of the company’s strategic expansion and investment in its operations.
According to local reports, the listing is a significant development for Quickmart, as it will provide the company with increased visibility and access to capital. It will also allow Kenyans to invest in a well-known brand, as Peter Kang’iri noted. The company’s growth strategy is focused on expanding its store network and improving its operations, which is expected to drive future growth.