# Quickmart launches Sh15 billion IPO and expansion plans > Live situation record from CLSTR: https://clstr.news/situations/quickmart-expansion-and-nairobi-securities-exchange-listing > Updated: 2026-10-26T01:47:26.000Z. Sources: 15. Developments: 7. Quickmart, a Kenyan supermarket chain, has launched a Sh15 billion initial public offering (IPO) ahead of its planned listing on the Nairobi Securities Exchange (NSE). The offer, which opened on October 5, 2026, is scheduled to run until October 30, with a market debut expected on November 12. The transaction involves the sale of two billion existing ordinary shares, representing 50 per cent of the company’s issued share capital, by the sole shareholder, Sokoni Retail Kenya Limited. At an offer price of Sh7.50 per share, Quickmart has an implied valuation of Sh30 billion. The IPO is conditional on achieving a minimum subscription of 75 per cent. As an offer for sale of existing shares, the proceeds will go to the selling shareholder rather than to Quickmart itself. Institutional interest has been significant, with Sh7.12 billion in commitments secured from four investors, representing approximately 47.5 per cent of the total offer. These include Sh5.18 billion from MOBILIST, RWC Asset Management LLP, and 337 Frontier Capital, alongside a conditional commitment of up to Sh1.94 billion from the International Finance Corporation (IFC). The UK government, through its MOBILIST programme, also intends to invest approximately $15 million (Ksh 1.94 billion) to purchase 260 million shares. Quickmart has announced an aggressive expansion strategy to grow its network from 72 to 125 stores over the next four years, targeting approximately 15 new openings annually. Chief Executive Peter Kang’iri stated the company aims to increase annual revenue to $1 billion, up from an expected 60 billion Kenyan shillings ($462 million) for the current financial year. This expansion seeks to challenge the dominance of Naivas, which holds a 31 per cent market share, while Quickmart currently holds 15 per cent. ## Timeline ### 2026-10-26: Quickmart secures Sh7.12 billion in institutional commitments for Kenya IPO Quickmart PLC has attracted Sh7.12 billion in commitments from four institutional investors for its Sh15 billion IPO in Kenya, covering nearly half of the total offer. 3 sources. https://clstr.news/cluster/quickmart-secures-sh712-billion-in-institutional-commitments-for-kenya-ipo ### 2026-10-21: UK government to invest $15 million in Kenya’s Quickmart The UK government and the IFC are investing approximately $15 million each in Kenyan supermarket chain Quickmart ahead of its planned IPO on the Nairobi Securities Exchange. 2 sources. https://clstr.news/cluster/uk-government-to-invest-15-million-in-kenyas-quickmart ### 2026-10-16: Quickmart plans expansion to 125 stores in Kenya Kenya’s Quickmart plans to expand from 72 to 125 stores in four years, targeting $1 billion in annual revenue to compete with market leader Naivas and Carrefour. 2 sources. https://clstr.news/cluster/quickmart-plans-expansion-to-125-stores-in-kenya ### 2026-10-07: Quickmart launches Sh15 billion IPO with IFC investment Quickmart has launched a Sh15 billion IPO in Kenya, with the International Finance Corporation committing Sh1.94 billion for a 6.5 per cent stake. 2 sources. https://clstr.news/cluster/quickmart-launches-sh15-billion-ipo-with-ifc-investment ### 2026-10-05: Quickmart launches Sh15 billion IPO ahead of NSE listing Quickmart has launched a Sh15 billion IPO in Kenya, offering 50 percent of its shares at Sh7.50 each. The sale by Sokoni Retail Kenya Limited aims for an NSE listing on November 12. 3 sources. https://clstr.news/cluster/quickmart-launches-sh15-billion-ipo-ahead-of-nse-listing ### 2026-09-26: Quickmart expands from Nakuru kiosk to national Kenyan retail chain Quickmart has grown from a 2006 Nakuru kiosk into a major Kenyan retail chain with 72 stores, following family leadership and investment from Adenia Partners. 2 sources. https://clstr.news/cluster/quickmart-expands-from-nakuru-kiosk-to-national-kenyan-retail-chain ### 2026-09-23: Quickmart to list 50% stake on Nairobi Securities Exchange Quickmart PLC plans to list 50% of its shares on the Nairobi Securities Exchange via an offer for sale by its sole shareholder, Sokoni Retail Kenya Limited. 6 sources. https://clstr.news/cluster/quickmart-to-list-50-stake-on-nairobi-securities-exchange --- Cite as: Quickmart launches Sh15 billion IPO and expansion plans. CLSTR, https://clstr.news/situations/quickmart-expansion-and-nairobi-securities-exchange-listing