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Inside Sh15bn IPO pay for Quickmart owners

QuickMart Supermarket branch in Nairobi.

Photo credit: Francis Nderitu | Nation Media Group

Quickmart Kenya owners will receive Sh15 billion from the sale of a 50 percent stake through a public offer at the Nairobi bourse, giving the retail chain's founders handsome returns.

Shareholders, through Sokoni Retail Kenya Limited (SRKL), are selling two billion shares at Sh7.50 each in the weeks to October 31, providing a multi-billion-shilling partial exit route for private equity firm Adenia and its founders.

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