The supermarket chain received more than 18,000 applications for the shares, which were offered at Ksh.7.50 each.
Quickmart PLC has officially begun trading on the Nairobi Securities Exchange (NSE) following a successful initial public offering (IPO) that attracted Ksh.18.41 billion in applications, exceeding its Ksh.15 billion target by 22.7 per cent.
The supermarket chain received more than 18,000 applications for the shares, which were offered at Ksh.7.50 each.
Foreign investors recorded the highest uptake, subscribing to nearly three times their allocated shares, signalling strong international interest in the retailer.
The successful IPO marks a major milestone for Quickmart as it joins the list of companies traded on the NSE, allowing investors to own a stake in one of Kenya's largest supermarket chains.
Quickmart's parent company, Sokoni Retail Kenya Limited, offered the shares; it is majority-owned by private equity firm Adenia Partners alongside the supermarket chain's founding families.
The offer price of Ksh.7.50 per share placed Quickmart's valuation at approximately Ksh.30 billion.
The IPO also attracted institutional backing from the International Finance Corporation (IFC), the World Bank Group's private sector investment arm, which had conditionally committed Ksh.1.94 billion ($15 million) for a 6.5 per cent stake in the retailer.
The investment positioned IFC as a cornerstone investor, a move expected to strengthen confidence among other investors participating in the offer.
