Quickmart’s share sale opened on Monday October 5, 2026 with each share priced at KSh7.50, valuing the supermarket chain at KSh30bn.

The seller, Sokoni Retail Kenya, is offering 2bn of Quickmart’s 4bn shares, representing half the company, and the offer could raise KSh15bn if fully subscribed.

The information memorandum forecasts profit of KSh2.1bn for 2026, giving a price-to-earnings ratio of about 14; using an adjusted profit of KSh2.32bn yields a P/E of 12.9, while the 2025 profit of KSh1.51bn implies a P/E of 19.9.

Stanbic Bank, which leads the sale, notes that the median P/E for 11 listed grocery chains abroad is 17.7 and the median for non-bank NSE companies is 12.7, placing Quickmart’s offer price slightly below the foreign median and a little above the local median.

Quickmart expects to pay a dividend of KSh2bn for 2026, equivalent to KSh0.50 per share or a 6.7 per cent yield at the offer price, with the first post-listing dividend covering the second half of 2026 at roughly KSh0.23 per share (3 per cent yield) and a 2027 dividend forecast of KSh2.5bn, or KSh0.63 per share (8.3 per cent yield).

All KSh15bn raised will go to Sokoni, which will cover the KSh575.6m offer-cost and retain the remaining KSh14.4bn; Sokoni’s largest owner is a holding company managed by Adenia Partners, with the rest owned by Quickmart’s founders, the founders of Tumaini, and chief executive Peter Kang’iri.

After the sale Sokoni will retain half of Quickmart’s shares and has agreed not to sell more than 60 per cent of that remaining stake for two years, subject to certain exceptions.

The offer is not underwritten and will only proceed if applications cover at least 75 per cent of the shares (1.5bn shares or KSh11.25bn); retail investors have 400m shares (20 per cent of the offer, KSh3bn) set aside, with a minimum order of 500 shares (KSh3,750) and applications accepted via *483*803# or paper forms until 5 pm on October 30, with allocations to be announced on November 6.

The International Finance Corporation has conditionally committed up to US$15m, about KSh1.94bn, representing roughly 13 per cent of the offer and 6.5 per cent of Quickmart, pending board approval, and may sell its stake at any time.

The Capital Markets Authority requires controlling shareholders to hold at least 60 per cent of their post-listing shares for two years, but anchor shareholders may sell an additional 800m shares (40 per cent of the remaining stake) after that period.

Prior to the IPO Adenia Partners held 50.79 per cent of Sokoni Retail Kenya, the Quickmart founder family 31.83 per cent, Tumaini founders 12.02 per cent and Peter Kang’iri 5.36 per cent; if the offer is fully subscribed those stakes would fall to 25.4 per cent, 15.9 per cent, 6.01 per cent and 2.68 per cent respectively.