Quickmart announces plans to list 100% of ordinary shares on NSE
Sokoni Retail Kenya Limited, owner of Kenya’s second largest retailer Quickmart has announced plans to list 100% of its ordinary shares in the supermarkt chain on the Nairobi Security Exchange by end of this month. The retailer says it has already filed its draft information memorandum and submitted its application to the CMA and NSE […] The post Quickmart announces plans to list 100% of ordinary…
Sokoni Retail Kenya Limited has announced its intention to list 100% of Quickmart's ordinary shares on the Nairobi Securities Exchange (NSE) by the end of the month. The company has already submitted its draft information memorandum and application to the Capital Markets Authority (CMA) and NSE for approval. Quickmart plans to sell 2 billion of its ordinary shares, equivalent to 50% of the issued share capital, through an offer for sale.
CEO Peter Kang'iri emphasized that the listing would enhance the retailer's presence across the country and strengthen its position with suppliers and partners. If the over-allotment option is utilized, the company's remaining shareholding would decrease to approximately 42.5%. The proposed listing aims to broaden ownership, introduce a public free float, and enable investors in Kenya, East African Community Partner States, and foreign markets to participate in Quickmart's future growth.
The existing shareholders intend to maintain a substantial stake in the company post-offer, reflecting their confidence in its long-term prospects. SBG Securities Limited and Stanbic Bank Kenya Limited are appointed as lead transaction advisers, while Dyer and Blair Investment Bank Limited serves as the co-placing agent.
Written by urgent.news from KBC's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
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