Safaricom’s Ziidi Trader accounted for more than two-thirds of retail applications in Quickmart Plc’s KSh 15 billion initial public offering, underscoring the growing role of mobile investment platforms in opening Kenya’s stock market to individual investors.
The platform processed 12,426 of the 18,178 retail applications received during the supermarket chain’s IPO, representing 68.4% of the total, according to the company’s official allocation results. Applications submitted through Ziidi Trader were valued at KSh 170.54 million.
Quickmart’s offering attracted KSh 18.41 billion in applications against the KSh 15 billion on offer, representing a subscription rate of 122.7%. Retail investors submitted applications worth KSh 2.387 billion, highlighting demand for shares in one of Kenya’s supermarket operators.
The retailer made its debut on the Nairobi Securities Exchange on Thursday, November 12, with its shares trading at approximately KSh 10, compared with the IPO price of KSh 7.50, representing a premium of about 33%.
For Safaricom, the participation through Ziidi Trader provides an early indication of how mobile investment services could reshape access to Kenya’s capital markets, traditionally dominated by institutional investors and individuals using conventional stockbroking channels.
The platform’s contribution was particularly significant in terms of application volumes. While Ziidi Trader accounted for more than two-thirds of retail applications, the KSh 170.54 million submitted through the platform represented approximately 7.1% of the total retail…
