Quickmart shares open at KSh10, a quick 33% gain on NSE debut

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Quickmart shares opened at an average price of KSh 10 on their first day of trading at the Nairobi Securities Exchange (NSE) on Thursday, 12 November 2026, KSh 2.50 or 33.3% above the KSh 7.50 offer price. The supermarket chain announced the opening price on its official X account after a bell-ringing ceremony that brought together the NSE, the Capital Markets Authority (CMA), the deal’s advisers and the company’s founders.

The debut follows an initial public offering (IPO) that Quick Mart PLC said was 122.7% subscribed, with 18,492 applications worth KSh 18.41 billion for 2 billion shares valued at KSh 15 billion (about USD 115 million). The shares now trade on the NSE’s Main Investment Market Segment.

What the KSh 10 opening means for Quickmart shares

The offer was a sale of 2,000,000,000 existing shares by Sokoni Retail Kenya Limited, the selling shareholder, which keeps another 2 billion shares, or 50% of the company, according to Quickmart’s results and allocation announcement of 6 November. That puts the total number of Quickmart shares in issue at about 4 billion.

At the KSh 10 opening price, those 4 billion shares imply a market value of about KSh 40 billion (about USD 308 million at the Central Bank of Kenya’s rate of KSh 129.96 to the dollar on 12 November). At the KSh 7.50 offer price, the same shares were valued at about KSh 30 billion.

An investor who was allocated 1,000 Quickmart shares in the IPO paid KSh 7,500. At KSh 10 a share, that holding is worth KSh 10,000 before brokerage and other trading fees. The opening price is an average of early trades; the day’s closing price is published in the NSE’s daily market report after trading ends.

Kenyan and East African retail investors, including staff, received 100% of the shares they applied for, as did Kenyan and East African institutions. Cornerstone investors IFC, 337 Frontier, RWC Asset Management and Mobilist received 90.1% of their applications combined, as detailed in our Quickmart IPO results report.

What leaders said at the listing

Quickmart posted remarks from the ceremony on its official X account. NSE Chairman Tom Mulwa said: “Today we celebrate the listing of a proudly Kenyan enterprise. We are very proud to welcome Quickmart into the NSE.”

CMA Chairman Ugas Mohamed said: “We are celebrating a transaction that has demonstrated the capacity of our capital markets to attract investment. The outcome has exceeded the offer size and shown strong demand across all investor categories.”

NSE Chief Executive Frank Mwiti said: “Quickmart has offered Kenyans the opportunity to move from being customers to being its owners. Ordinary Kenyans want more than access to products, they want access to ownership and wealth creation.”

Stanbic Bank Kenya Chief Executive Michael Mutiga said: “We are back with proof that Kenyans are ready and willing to invest in well-managed companies.” Mary Porter of IFC said the listing was “about deepening the capital markets so that the supporting infrastructure for companies to grow and go public exists.”

Martha Osier, a partner at Adenia Partners, said: “Today is a significant milestone. We were the first to invest in Quickmart because we believed that with strong management, it could grow and employ Kenyans.” British Deputy High Commissioner Diana Dalton said the UK had supported the deal through MOBILIST, “a global programme that helps growing businesses get listed.” Founder Duncan Kinuthia told new investors: “To our new shareholders, welcome to the Quickmart family.”

What the government says comes next

Investments, Trade and Industry Cabinet Secretary Lee Kinyanjui said: “This listing demonstrates that a Kenyan family business can grow into an institution owned by the public.” According to Quickmart’s account of his remarks, the ministry is prioritising four steps to bring more companies to the bourse:

• strengthening enterprise market segments;
• reviewing listing rules to reduce cost and complexity;
• supporting IPO readiness programmes; and
• encouraging pension funds, insurers and SACCOs to invest.

Earlier coverage of the deal includes the IFC anchor commitment, the cornerstone investors who took 48% of the IPO and Quickmart’s place in the supermarket market against Naivas and Carrefour.

How to buy or sell Quickmart shares

Now that Quickmart shares are listed, investors who missed the IPO can buy them through a licensed stockbroker or investment bank using a CDS account, and IPO investors can sell the same way. Our guide on how to buy shares on the NSE explains the steps. Prices change through the trading day, so check a live quote with your broker before you place an order.

Frequently asked questions

What price did Quickmart shares open at on the NSE?

Quickmart said its shares opened at an average price of KSh 10 on 12 November 2026, 33.3% above the KSh 7.50 IPO price.

How much was the Quickmart IPO worth?

The offer was 2 billion shares at KSh 7.50 each, worth KSh 15 billion. It drew 18,492 applications worth KSh 18.41 billion, a 122.7% subscription.

Who sold Quickmart shares in the IPO?

Sokoni Retail Kenya Limited sold 2 billion existing shares and keeps 2 billion shares, or 50% of the company, after the offer.

Can I still buy Quickmart shares?

Yes. Since 12 November 2026 the shares trade on the NSE Main Investment Market Segment, and you can buy them through a licensed stockbroker with a CDS account.