Quickmart, one of Kenya’s largest supermarket chains, has announced plans to list on the Nairobi Securities Exchange’s (NSE) Main Investment Market Segment, in a move that would mark a major private equity exit for its owner, Sokoni Retail Kenya.
Under the proposed transaction, Sokoni Retail Kenya, a special purpose vehicle wholly owned by Mauritius based private equity firm Adenia Partners and the company’s sole shareholder, intends to sell 2 billion existing shares, equivalent to 50% of Quickmart. Because the offer is structured entirely as a sale of existing shares rather than an issuance of new stock, Quickmart itself will not receive any proceeds from the transaction; the funds raised will go directly to Sokoni Retail Kenya. The listing is expected to launch around 30 September, subject to approval from the Capital Markets Authority (CMA) and the NSE.
The move would give ordinary Kenyan and regional investors their first opportunity to buy into the retailer, following a familiar path for Adenia owned businesses of listing rather than a straightforward private sale. Adenia acquired majority control of Quickmart in 2019 through Sokoni Retail Kenya, later merging its operations with those of rival chain Tumaini Self Service to create a single, larger retail group operating under the Quickmart brand.
Quickmart currently operates 72 stores spread across 16 counties, and the company estimates that it commands roughly 15% of Kenya’s modern grocery retail market, a segment that has consolidated significantly over the past decade following the collapse of former giants Nakumatt, Uchumi and Tuskys, and the exit of foreign entrants such as Shoprite and Game.
Financially, Quickmart recorded revenue of KSh 50.43 billion and net profit of KSh 1.51 billion for the 2025 financial year. The retailer’s momentum has continued into 2026, with first half revenue reaching KSh 27.27 billion.
A listing by way of an offer for sale, rather than a fresh capital raise, mirrors the structure used by other Kenyan companies transitioning from private to public ownership, allowing an existing majority shareholder to unlock value while widening the company’s shareholder base. If completed, the transaction would add a major consumer retail name to the NSE’s roster and give a fresh listing at a time when new IPO activity in Nairobi has been relatively scarce in recent years.
The final terms, including offer price and timeline, will depend on the outcome of the CMA and NSE review process.
