The
International Finance Corporation is committing about Sh1.94 billion for a 6.5
percent stake in Quickmart through its Sh15 billion IPO, priced at Sh7.50 per
share and valuing the company at Sh30 billion. Started in 2006 by John Kinuthia
and his wife Zipporah, with son Duncan driving expansion after a key 2019
merger, the chain now runs dozens of stores and employs thousands.
This marks IFC's return to Kenya's retail sector after selling a profitable Naivas stake, signaling confidence amid bourse activity while existing shareholders like Adenia Partners cash in part of their investment.