The UK government has subscribed KSh 1.94 billion ($15 million) to QuickMart PLC’s ongoing initial public offering through its MOBILIST programme, taking roughly 13 percent of the KSh 15 billion offer and an estimated 6.5 percent equity stake in the retailer.
The investment, made through the Foreign, Commonwealth and Development Office’s flagship public-markets programme, covers approximately 260 million shares. It follows a separate conditional commitment of up to KSh 1.94 billion from the International Finance Corporation, subject to IFC board approval. Together, the two institutions could account for nearly 26 percent of the offer if the IFC proceeds in full.
Offer Structure
QuickMart is offering two billion existing ordinary shares, representing 50 percent of its issued share capital, at a fixed price of KSh 7.50 per share. The shares are being sold by Sokoni Retail Kenya Limited. No new shares are being issued, so the proceeds will go entirely to the selling shareholder rather than into the company for expansion.
| Detail | Information |
|---|---|
| Offer size | KSh 15 billion (2 billion shares) |
| Offer price | KSh 7.50 per share |
| Implied valuation | KSh 30 billion |
| MOBILIST stake | KSh 1.94bn / ~260 million shares (~13% of offer) |
| IFC commitment | Up to KSh 1.94bn (conditional) |
| Minimum application | 500 shares (KSh 3,750) |
| Offer closes | 30 October 2026, 5:00 pm |
| NSE listing | 12 November 2026 |
Retail Scale
QuickMart enters the public market with 72 stores across 16 counties. It reported revenue of KSh 50.4 billion in the 2025 financial year. The company has indicated an intention to target a dividend payout ratio of at least 80 percent of annual profit after tax after listing, subject to board discretion and regulatory requirements.
Group Chief Executive Peter Kang’iri welcomed the MOBILIST subscription, saying the retailer had built its business around making fresh food and everyday essentials accessible while running stores efficiently. The offer opened on 5 October 2026 and requires a minimum subscription of 75 percent of the shares on offer to proceed.
Read also:Quickmart Supermarket Kenya — Branches, Contacts & Shopping Hours | Business Listings Kenya
Applications can be made through the official IPO portal at ipo.quickmart.co.ke, with the minimum entry set at 500 shares. The Capital Markets Authority has approved the offer and Information Memorandum, while the Nairobi Securities Exchange has approved listing of the full four billion issued shares on the Main Investment Market Segment.
The MOBILIST commitment adds a second major institutional anchor alongside the conditional IFC participation. It also underscores continued international interest in Kenya’s retail sector and public markets as the offer moves into its final days.
Sources:
KBC – UK Government acquires Ksh 1.94B stake in Quickmart
Business Daily Africa
QuickMart IPO official portal
Nairobi Securities Exchange
Confirm the latest offer terms and your own eligibility directly with the issuer and licensed intermediaries before applying.