Quickmart Announces Plans to List on Nairobi Securities Exchange

Quickmart has announced plans to list all its issued ordinary shares on the Main Investment Market Segment of the Nairobi Securities Exchange (NSE).

In a statement on Wednesday, September 23, the company said the proposed listing will be carried out through an offer for sale of existing shares by its sole shareholder, Sokoni Retail Kenya Limited (SRKL).

Quickmart announced that the planned transaction will involve the sale of 2 billion ordinary shares, equivalent to 50 percent of the company’s issued ordinary share capital. 

SRKL currently owns the entire issued share capital of Quickmart.

"Quick Mart PLC, one of Kenya's leading modern grocery retailers, today announced its intention to list all of its issued ordinary shares on the Main Investment Market Segment of the Nairobi Securities Exchange ("NSE") by way of a proposed offer for sale of existing shares (the "Offer") by its sole shareholder, Sokoni Retail Kenya Limited ("SRKL" or the "Selling Shareholder")," the statement read.

SRKL is expected to remain the company’s shareholder following the proposed sale, while the transaction will introduce a significant public ownership component in Quickmart.

"SRKL currently holds the entire issued share capital of Quickmart. Pursuant to the Offer, SRKL proposes to sell 2 billion of its ordinary shares, representing 50% of Quickmart's issued ordinary share capital," the statement added.

The retailer clarified that the proposed transaction will not involve the creation of new shares and that Quickmart itself will not receive any of the proceeds generated from the offer.

"Quickmart will not issue any new shares and will not receive any proceeds from the Offer. The Company expects to continue funding its organic growth and store expansion primarily through internally generated cash flows," the statement further read.

An additional over-allotment option could increase the number of shares available under the offer, depending on the terms outlined in the Information Memorandum.

"The Offer is also expected to include an over-allotment option of up to 15% of the Offer Shares, subject to the terms to be set out in the Information Memorandum," the statement explained.

Quickmart said the proposed listing would expand its ownership base and create a public free float, while also allowing SRKL to realise part of its investment after a period of growth and transformation.

"The proposed Offer represents the next stage in Quickmart's development. The Offer would broaden the Company's ownership base, create a meaningful public free float and provide the Selling Shareholder with an opportunity to realise part of its investment following a sustained period of growth and business transformation," the statement noted.

The proposed NSE listing is, however, subject to regulatory approvals and other applicable conditions. Quickmart expects the offer to launch on or around September 30, 2026, with further details to be provided in the Information Memorandum.

"The Offer remains subject to the requisite regulatory approvals, and other applicable conditions. The Offer is currently expected to launch on or around 30 September 2026, with further details regarding the timetable and terms to be set out in the Information Memorandum," the statement concluded.

This development comes weeks after Quickmart announced the exit of its Chief Marketing Officer, Betty Wamaitha.

In a statement on Friday, July 31, the retailer said Wamaitha's departure would take effect on August 5, 2026, as she moves on to pursue the next phase of her career. 

"After more than a decade of distinguished service to Quickmart, our Chief Marketing Officer, Ms Betty Wamaitha, has decided to step down from her role, effective 5 August 2026, to pursue the next chapter of her career," the statement read.

According to the retailer, Wamaitha and her marketing team helped cultivate the brand recognition and customer loyalty that supported the successful launch of new stores.

Quickmart also praised Wamaitha's contribution beyond marketing, saying she invested in developing colleagues and worked closely with teams across the organisation.

To maintain stability following her departure, Quickmart announced that Victor Muya will take charge of the marketing department in an acting capacity while the recruitment process for a permanent replacement gets underway.

"To ensure continuity in the interim, the marketing function will be overseen by Victor Muya as Acting Head of Marketing. A substantive appointment to the marketing role will be announced in due course," the statement added.