The United Kingdom’s Foreign, Commonwealth & Development Office (FCDO), through its MOBILIST programme, has subscribed for US$15 million, approximately Ksh.1.94 billion, of shares in the Initial Public Offering of Quick Mart PLC (“QuickMart”), ahead of the retailer’s proposed listing on the Nairobi Securities Exchange (NSE).
At the stated Kenya shilling equivalent, the subscription represents approximately 13% of the Ksh.15 billion Offer, with share allotment to be completed in accordance with the Offer terms.
The announcement follows the previously disclosed conditional cornerstone commitment from the International Finance Corporation (IFC) - the World Bank’s private sector arm - to purchase up to US$15 million, approximately Ksh.1.94 billion, in Offer Shares, subject to the approval of IFC’s Board.
Quickmart operates 72 stores across 16 counties and recorded revenue of Ksh.50.4 billion in FY2025.
Its growth strategy combines store expansion, increased sales within its existing network, digital channels and operational efficiency, with organic growth expected to be funded primarily from internally generated cash flows.
Peter Kang’iri, Group Chief Executive Officer of QuickMart, said: “We welcome MOBILIST as an investment partner as we broaden QuickMart’s ownership. We have built QuickMart around a straightforward proposition: to make fresh food and everyday essentials accessible, run our stores efficiently and reinvest the cash the business generates in disciplined growth."
"With MOBILIST’s support, our proposed listing will help to realise QuickMart’s ambition to create long-term shareholder value while expanding opportunities for our suppliers, creating jobs, impacting the economy, and bringing convenient, affordable shopping to more communities," Kang'iri added.
MOBILIST is the UK Government’s flagship public-markets programme. MOBILIST invests capital, delivers technical assistance, conducts research, and builds partnerships to catalyse investment by supporting new products to list on public markets.
The investment builds on MOBILIST’s 2024 partnership with the NSE to expand the range of listed investment opportunities that drive development and enable greater capital markets participation by Kenyan institutions, including pension funds.
Earlier in 2026, MOBILIST invested US$9 million as a cornerstone investor in the listing of the Africa Logistics Properties Industrial Real Estate Investment Trust (ALP REIT).
It also anchored the Spearhead Africa Infrastructure Fund, Kenya’s first listed infrastructure fund, with approximately Ksh.1.2 billion. That fund raised Ksh.3.4 billion to provide long-term, local-currency financing for infrastructure.
QuickMart’s IPO comprises 2 billion existing ordinary shares, representing 50% of its issued share capital, offered by Sokoni Retail Kenya Limited at Ksh.7.50 per share.
The transaction broadens ownership through the sale of existing shares, and no new shares are being issued by QuickMart.
The Offer closes at 5:00 p.m. East Africa Time on 30 October 2026, with trading on the NSE expected to commence on 12 November 2026, subject to the Offer conditions and any formally announced changes to the timetable.
Prospective investors should refer to the approved Information Memorandum available at ipo.quickmart.co.ke for the complete terms, risks and application procedures.