Quickmart shares jump 33% as NSE debut puts supermarket chain’s value at KSh40 billion

In brief

Quickmart’s shares opened trading at KSh10 on the Nairobi Securities Exchange (NSE), giving the supermarket chain an implied market capitalisation of KSh40 billion, against the KSh30 billion valuation attached to its initial public offering (IPO). The opening price represented a 33.3% gain over the IPO price of KSh7.50, although the stock later traded at an …