QuickMart IPO Oversubscribed at 122.7%

The QuickMart Plc IPO closed oversubscribed at 122.7%, with 18,492 applications came in for 2.45 billion shares against 2 billion on offer, worth KSh 18.4illion. This is against the target of KSh 15billion at KSh 7.50 per share.

Available data shows that both retail investors as well as Kenyan & East African Community institutional investors got 100%.

Foreign investors demand hit nearly 3 times the pool (298%), with a 49.4% allocation rate against an overall allocation rate of 85.6%. With limits on allocation to foreign investors, they are expected to become aggressive when QuickMart shares becomes available at the NSE.

With the Quick mart IPO closed, the payment deadline for institutional investors is November 10^th 2026. Shares will be credited to CDS accounts as refunds begin on November 11^th 2026 ahead of commencement of trading in Quick Mart shares at the Nairobi Securities Exchange(NSE) on November 12^th 2026.

Quick Mart PLC allocated all 2.00Bn IPO shares, representing 50% of the retailer, following applications for 2.45Bn shares. Investors received 85.6% of eligible shares applied for, although allotment rates varied across categories.

Kenyan/EAC retail and institutional investors received 100% of eligible applications, despite subscription rates of 132.6% and 109.4%, respectively.

Foreign investors received just 49.4% of eligible applications after demand reached 298.0% of their indicative allocation.

 Quickmart IPO Key Allocations

*  Retail: 199.64Mn shares, 100% allotted.
*  Kenyan/EAC institutions: 700.17Mn shares, 100% allotted.
* Foreign investors: 236.00Mn shares, 49.4% allotted.
* Cornerstone investors: 864.18Mn shares, including 258.00Mn to IFC.
* Overall: 2.00Bn shares allocated, equivalent to 50% of Quickmart’s issued capital.

Quickmart had revised the allocation of its KSh 15 billion IPO after adding MOBILIST, RWC, LLP and 337 Frontier as Cornerstone Investors alongside IFC.

Cornerstone will receive an indicative 960 million shares worth KSh 7.2 billion equivalent to 485 of the 2 billion shares on offer.

The Kenya and East African retail pool was reduced to 12% from 20% while local institutional investors will receive 32% and 8% for foreign investors.

MOBILIST and 337 Frontier each applied for about KSh 1.94 billion of shares while RWC applied for about KSh 1.3 billion worth of shares.

UK Government’s MOBILIST partnered with the NSE in September 2924, to attract institutional capital and support listings. In March this year, it invested US$ 9million in ALP Industrial REIT and in April invested US$ 9.3 million in Spearhead Africa Infrastructure Fund.

GLANCE BOX:

NSE IPOs and REIT Offerings: Subscription Rates (2006–2026)

◉ 2026 Quickmart ➠ 122.7%
◉ 2026 Trific Green I-REIT ➠ 103.3%
◉ 2026 ALP I-REIT ➠ 115.0%
◉ 2026 Kenya Pipeline Company ➠ 105.7%
◉ 2015 Stanlib Fahari REIT ➠ 28.96%
◉ 2014 Nairobi Securities Exchange ➠ 764.0%
◉ 2011 Britam Holdings ➠ 60.0%
◉ 2008 Co-operative Bank ➠ 81.0%
◉ 2008 Safaricom ➠ 532.0%
◉ 2007 Kenya Re ➠ 334.0%
◉ 2007 Access Kenya ➠ 363.0%
◉ 2006 Eveready ➠ 830.0%
◉ 2006 Scangroup ➠ 620.0%
◉ 2006 KenGen ➠ 333.0%