The United Kingdom has subscribed to the tune of US$15 million (about Ksh1.94 billion) to the Ksh15 billion initial public offering (IPO) of Quickmart PLC, representing around 13%, as the leading supermarket chain gears to list on the Nairobi Securities Exchange (NSE).

Quickmart announced the investment on Tuesday, 20 th October 2026, which it said came through the UK government’s Foreign, Commonwealth & Development Office (FCDO) and was part of its MOBILIST program that supports investments in public markets in developing economies.

The IPO, which involves the sale of 2 billion existing ordinary shares at Ksh7.5 each, represents 50% of the issued share capital of Quickmart. The vendor is Sokoni Retail Kenya Ltd, so the proceeds will belong to the selling shareholder and not the company. The subscription of 13% represents about Ksh1.94 billion of the Ksh15 billion share offering said Peter Kang’iri, Quickmart Group Chief Executive Officer.

“We have built QuickMart around one simple idea – to make fresh food and everyday essentials accessible to all, run our stores efficiently and reinvest the cash generated back into disciplined expansion and growth,” said Peter Kang’iri, Quickmart Group Chief Executive Officer. He added that, “We are thrilled to welcome UK government as an investor and shareholder in our journey of providing affordable quality retail products to millions of Kenyan consumers,” adding that the company sought to democratize ownership while remaining focused on execution.

The offer opened on 5 th October and will close on 30 th October 2026, with trading on the NSE expected to commence on 12 th November 2026. This will depend on the fulfillment of conditions by the offer and an official schedule from the NSE.

MOBILIST is a UK government initiative that funds investments via public markets in emerging markets, with an objective to catalyze and broaden access to institutional capital in developing economies to increase the availability of capital and expand opportunities for investors.

MOBILIST’s involvement in the Quickmart offering comes as the UK seeks to drive Kenya’s capital markets and attract more institutional investors to its bourse. In addition, the program has a pipeline of deals in Kenya, including the Africa Logistics Properties Industrial REIT and the Spearhead Africa Infrastructure Fund.

The International Finance Corporation (IFC), World Bank Group’s private sector investment arm, has, separately, pledged to subscribe to a portion of Quickmart shares, up to a maximum of US$15 million, subject to approval by its board. If both the IFC and the UK government follow through on their subscriptions, they will constitute significant institutional backing for the IPO offering.

Quickmart has a national chain of supermarkets dealing in groceries, fresh food, and everyday items. The listing will enable investors to gain exposure to the supermarket group. However, the UK subscription will not mitigate the risks of investing in the company. Potential investors must conduct due diligence on the offering, including a review of the financial statements and risk factors before investing.