Quick Mart IPO Draws Strong Demand in Kenya's Second Listing of the Year

Quick Mart Plc concluded Kenya's second IPO of the year with investor demand exceeding available shares by nearly 23%.

Investors applied for 2.45 billion shares priced at 7.50 shillings each against an offering of 2 billion shares, generating 18,492 applications.

Sole owner Sokoni Retail Kenya Ltd sold half its stake to provide an exit route for private equity funds, with shares set to trade on November 12.