Quickmart says it intends to list on the NSE's main market to give current investors a path to lighten their holdings. In an emailed update on Wednesday, the company said Sokoni Retail Kenya Ltd. - which owns 100% of Quickmart - is proposing to sell 2 billion shares, representing half of its position. The offer also features a potential extra allocation of up to 15% of the shares on offer, subject to terms. No new shares will be created, and Quickmart itself will not receive any proceeds.
Kenya's food retail scene is still largely served by small-scale sellers such as kiosks and open air markets, even as chains expand with urbanization and a rising middle class. Against that backdrop, Quickmart runs 72 stores and is aiming for 100 locations in Kenya over the medium term. The company says it plans to keep financing organic expansion and new sites mainly from cash generated by the business. For FY2025, revenue came in at 50.4 billion shillings; adjusted profit after tax totaled 1.7 billion shillings; and the top line has increased at an 18% compound annual rate over the past five years.
Quickmart's lineage comes from two retailers launched in 2006: the namesake chain started in Nakuru by the late John Kinuthia, and Tumaini Stores, which began in Nairobi the same year. Following capital injections from Mauritius-based Adenia Partners, the two companies merged in January 2020 and adopted the Quickmart brand. Sokoni serves as the holding vehicle for Adenia, the group chief executive officer, and the founders of Quickmart and Tumaini, with the Mauritian investor retaining control.
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This is a secondary sale, so any cash raised goes to the seller, not into Quickmart's coffers. Even so, the company is signaling an income tilt after listing: the board is targeting a dividend payout of at least 80% of the profit after tax each year, with the level dependent on performance and capital needs. Management also guided to an initial dividend covering the second half of 2026, payable in the first half of 2027. For everyday investors, the mix of steady store rollouts funded by internal cash and a clear dividend intent paints a picture of how returns could come together if the listing proceeds as planned.
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