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Quickmart Plans NSE Listing as Retailer Opens Ownership to Kenyans
The planned sale would let Kenyan investors buy into one of the country’s largest modern retailers and add a major consumer company to the NSE.
- Quickmart, Kenya's second-largest modern grocery retailer, announced plans to list on the Main Investment Market Segment of the Nairobi Securities Exchange, subject to regulatory approval.
- Founded with a single store in Nakuru in 2006, the business has grown into a national chain with 72 outlets, representing a major transformation from when it operated only 11 stores.
- CEO Peter Kang described annual revenue as approximately $400 million, or Sh51.2 billion; the Q-Soko platform offers more than 15,000 products with M-Pesa support and same-day delivery in Nairobi, Nakuru, and Mombasa.
- Sokoni Retail Kenya Limited, the sole shareholder, will offer its shares to the public in an ownership transition, meaning Quickmart will not necessarily receive the proceeds from the shares being sold.
- Listing on the NSE will add a major consumer-facing company and help deepen Kenya's capital markets, while providing greater visibility into Quickmart's financial performance under standard disclosure requirements.
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12 Articles
Kenya’s second-largest supermarket puts up to 57.5% on sale after rivals collapsed and foreign chains exited
The owners of Kenya’s second-largest supermarket chain are offering investors as much as 57.5% of the business after Quickmart expanded into the market left behind by collapsed domestic rivals and departing foreign retailers.
·New York, United States
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Karakuta Fresh Produce, Quickmart plan to list at NSE
Karakuta Fresh Produce, one of the leading Kenyan exporters of Avocado and Fresh Organic Herbs, has announced plans to list by introduction at the Nairobi Securities Exchange(NSE). This is subject to approval from the NSE and the Capital Markets Authority(CMA). According to Karakuta Fresh Produce Founder and CEO Grace Ngungi, the listing will enable additional […]
Coverage Details
Total News Sources12
Leaning Left1Leaning Right0Center2Last UpdatedBias Distribution67% Center
Bias Distribution
- 67% of the sources are Center
67% Center
L 33%
C 67%
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