The shares will have a nominal value of Sh0.20 with about 2 billion set to be sold Kenyan supermarket chain Quickmart plans to list half of its issued shares on the Nairobi Securities Exchange (NSE) by end of this month in what will widen ownership of one of the country’s top tier home-grown retailers.
The retailer plans to sell two billion existing ordinary shares, equivalent to 50 per cent of its issued share capital, through a proposed listing on the Main Investment Market Segment of the NSE. The offer, which is subject to regulatory approvals, is expected to launch on or around September 30, 2026, giving investors an opportunity to acquire a stake in the 72-store supermarket chain.
“We have a tentative date of September 30 subject to approval by the regulator,” the retailer told the Star yesterday. The transaction will be an offer for sale, meaning no new shares will be issued by Quickmart and the retailer will not receive proceeds from the sale.
Instead, its sole shareholder, Sokoni Retail Kenya Limited (SRKL), will sell part of its existing holding in the supermarket business. Quickmart said the proposed listing would “broaden its ownership base and create a meaningful public free float” as it seeks to build on the expansion that has established it as one of Kenya's leading home-grown supermarket chains.
The shares will have a nominal value of Sh0.20 each, meaning the 2 billion shares represent Sh400 million in nominal share capital. The nominal value, however, should not be confused with the eventual offer or market value of the shares, which will be determined under the terms to be set out in the Information Memorandum.
Nominal capital is the maximum limit of capital a company is legally authorised to issue, whereas share capital is the actual value of shares issued to or paid by shareholders. The transaction is also expected to include an over-allotment option of up to 15 per cent of the offer shares, subject to the terms of the Information Memorandum.