> ## Content Index > Fetch the complete content index at: https://www.blackexecutivebrief.com/llms.txt > Use this file to discover other available public pages before exploring further. # Quickmart Opens At KES 10 On Nairobi Securities Exchange After KES 15 Billion IPO - URL: https://www.blackexecutivebrief.com/quickmart-opens-at-kes-10-on-nairobi-securities-exchange-after-kes-15-billion-ipo/ - Published: 2026-11-14T02:58:52.000Z - Updated: 2026-11-15T00:12:03.000Z - Description: Quickmart opened at KES 10 on the Nairobi Securities Exchange, 33% above its KES 7.50 IPO price, after a KES 15 billion offer drew KES 18.41 billion in bids. The Black Executive Journal — Daily Edition - Author: BEB Editors - Tags: The Pulse BEJ Intelligence · Companies in this story BEJ Intelligence [Quickmart](https://desk.blackexecutivebrief.com/company/quickmart?ref=blackexecutivebrief.com) Private company · Nairobi, Kenya · Led by Peter Kang'iri (Group CEO) **0**SEC filings, 90 days**53**news items, 30 days #### In the news - [Quickmart shares dip 7.9pc on second day as investors cash in](https://www.businessdailyafrica.com/bd/markets/capital-markets/quickmart-shares-second-day-5670342?ref=blackexecutivebrief.com)Business Daily Africa · Nov 14, 2026 - [Ziidi Trader Fuels Retail Participation in Quickmart’s Sh2.9 Billion IPO](https://news.google.com/rss/articles/CBMipAFBVV95cUxNVG5TUGQ3a1RjWmFyM1JGRkRwOHpTeEtNVEJINF94RVFYZTJIeXhpR1o1OW41R3plMWZwOUQxbmxXN2cxUEJuenlEZnZkdmJvWkZTeVFEV3F1QXVIRUR2NDRhQnY4azRzcnZubVZoYV9JMkZpb1JtZ1k3S1gyWDFOZldYZTE2VDFjSjQ4MUFFM2hRYzJfRmlPOWlpUFVXMWpzbzhzdtIBpAFBVV95cUxNVG5TUGQ3a1RjWmFyM1JGRkRwOHpTeEtNVEJINF94RVFYZTJIeXhpR1o1OW41R3plMWZwOUQxbmxXN2cxUEJuenlEZnZkdmJvWkZTeVFEV3F1QXVIRUR2NDRhQnY4azRzcnZubVZoYV9JMkZpb1JtZ1k3S1gyWDFOZldYZTE2VDFjSjQ4MUFFM2hRYzJfRmlPOWlpUFVXMWpzbzhzdg?oc=5&ref=blackexecutivebrief.com)Kahawatungu · Nov 13, 2026 [Full profile on Diaspora Desk Daily →](https://desk.blackexecutivebrief.com/company/quickmart?ref=blackexecutivebrief.com)Live data · SEC EDGAR, FINRA and approved outlets BEJ Intelligence [Safaricom](https://desk.blackexecutivebrief.com/company/safaricom?ref=blackexecutivebrief.com) Public company · Nairobi, Kenya · NSE: SCOM **0**SEC filings, 90 days**86**news items, 30 days #### In the news - [Safaricom takes action after customer is conned while buying Bundles Mwitu](https://peopledaily.digital/news/safaricom-takes-action-after-customer-is-conned-while-buying-bundles-mwitu?ref=blackexecutivebrief.com)People Daily · Nov 14, 2026 - [Safaricom clarifies on Lipa Mdogo Mdogo laptops offer](https://peopledaily.digital/business/safaricom-clarifies-on-lipa-mdogo-mdogo-laptops-offer?ref=blackexecutivebrief.com)People Daily · Nov 14, 2026 [Full profile on Diaspora Desk Daily →](https://desk.blackexecutivebrief.com/company/safaricom?ref=blackexecutivebrief.com)Live data · SEC EDGAR, FINRA and approved outlets BEJ Intelligence [African Development Bank](https://desk.blackexecutivebrief.com/company/african-development-bank?ref=blackexecutivebrief.com) Development finance · Abidjan, Côte d'Ivoire **3**SEC filings, 90 days**98**news items, 30 days #### Latest SEC filings - [PYXUS INTERNATIONAL, INC. 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The first trade came at 9:30am EAT under ticker **QMRT** ([Quickmart — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com)). - The **KES 15 billion** offer of **2 billion shares** drew **18,492 applications worth KES 18.41 billion**, a **122.7%** subscription level. All **4 billion** ordinary shares are now admitted to trading ([Quickmart — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com)). - Seller **Sokoni Retail Kenya** sold **50%** of the retailer at an implied **KES 30 billion (about US$230.8 million)** market value. Adenia stays invested through the 50% Sokoni retains, after growing Quickmart from **9 stores to 72** since 2018 ([Adenia — Nov 12, 2026](https://finance.yahoo.com/markets/stocks/articles/adenia-completes-partial-exit-quickmart-070000664.html?ref=blackexecutivebrief.com)). - **ExxonMobil** took a final investment decision on **Longtail**, the eighth Stabroek development offshore Guyana. It is a **US$12.5 billion** gas and condensate project targeting **2030** start-up ([ExxonMobil — Nov 12, 2026](https://investor.exxonmobil.com/company-information/press-releases/detail/1214/exxonmobil-advances-next-phase-of-guyana-development-with?ref=blackexecutivebrief.com)). - Longtail's FPSO is designed to process **1.2 billion standard cubic feet of gas per day** and up to **250,000 barrels of condensate per day**, while current Stabroek output is about **900,000 bpd** ([ExxonMobil — Nov 12, 2026](https://investor.exxonmobil.com/company-information/press-releases/detail/1214/exxonmobil-advances-next-phase-of-guyana-development-with?ref=blackexecutivebrief.com)). - **Morocco and the** [**African Development Bank Group**](https://desk.blackexecutivebrief.com/company/african-development-bank?ref=blackexecutivebrief.com) signed a **€434.4 million** agreement (nearly **4.8 billion dirhams**) for phase III of the Economic Governance and Climate Change Resilience Support Programme ([AfDB — Nov 13, 2026](https://www.afdb.org/en/news-and-events/press-releases/morocco-secures-nearly-48-billion-dirhams-reforms-98539?ref=blackexecutivebrief.com)). --- --- # KENYA — Quickmart Lists On Nairobi Securities Exchange And Opens 33 Percent Above IPO Price Quick Mart PLC began public trading on the Nairobi Securities Exchange's **Main Investment Market Segment** on Thursday, opening at **KES 10 per share** against an offer price of **KES 7.50** ([Quickmart — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com)). The first trade crossed at **9:30am EAT** under the symbol **QMRT**. Kenya's Cabinet Secretary for Investments, Trade and Industry, **Lee Kinyanjui**, was chief guest alongside NSE Chief Executive **Frank Mwiti**. The offer ran from **October 5 to 30** and comprised **2 billion existing shares**, worth **KES 15 billion**. Investors applied for **2,454,598,686 shares** through **18,492 applications worth KES 18.41 billion**, a **122.7%** subscription level. Retail investors from Kenya and the East African Community filed **18,178** of those applications, and **12,426** came through [Safaricom](https://desk.blackexecutivebrief.com/company/safaricom?ref=blackexecutivebrief.com)'s **Ziidi Trader** platform ([Quickmart — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com)). The allocation shows where the capital came from. Four cornerstone investors took **864.2 million shares, or 43.2% of the offer**: **IFC** with 258 million, **337 Frontier Capital** with 259.7 million, **RWC Asset Management** with 173.15 million and the UK government's **MOBILIST** programme with 173.33 million. Kenyan and EAC institutions received all **700.2 million shares** they sought, or **35.0%** of the offer. The foreign pool was nearly three times oversubscribed and received **236.0 million shares, or 11.8%**. Employees, including the Group CEO, applied for **KES 520.6 million** and were filled in full. The **five founder-shareholder applications received no allocation** ([Quickmart — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com)). MOBILIST says it initially committed **up to US$15 million** as cornerstone demand. It then cut its final allocation by about **US$5 million** as demand strengthened, "creating more space for Kenyan institutional and retail investors" ([MOBILIST — Nov 12, 2026](https://www.mobilistglobal.com/news-views-events/mobilist-invests-in-kenyan-retailer-quickmarts-ipo/?ref=blackexecutivebrief.com)). The business behind the ticker is substantial. Quickmart runs **72 stores across 16 counties**, employs **more than 8,000 people**, buys from **over 700 suppliers** and sources produce from **more than 14,000 Kenyan farmers**. It reported **FY2025 revenue of KES 50.4 billion** and **adjusted profit after tax of KES 1.7 billion**, and it paid **KES 2.9 billion in taxes in 2025**. Management targets **125 Kenyan stores by 2030**, funded "primarily from the cash its business generates" ([Quickmart — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com)). ### Why It Matters East African equity markets have spent years losing listings rather than gaining them. A family business founded in Nakuru now trades on the main board with **4 billion shares** admitted, an implied value of about **KES 40 billion** at the opening price, and **more than 18,000 retail applications**, most of them filed on a phone. Kenyan founders now have proof that the NSE can absorb a **KES 15 billion** secondary sale with local institutions filled in full. Pension funds and diaspora investors gain a consumer-staples name with **KES 50.4 billion** in revenue in a thin local market. The founders' blocked bids also show that oversubscription pricing now favours outside investors over insiders. --- --- ## KENYA — Adenia Completes Partial Exit From Quickmart Through Nairobi Listing Private equity firm **Adenia** used the listing as its exit route. The offer was made by **Sokoni Retail Kenya Limited**, whose shareholders include Adenia, Quickmart's founders and the Group CEO. It sold **50% of Quickmart** at **KES 7.50**, raising **KES 15 billion (about US$115.4 million)** for the selling shareholders. Sokoni retains the remaining **50%** ([Adenia — Nov 12, 2026](https://finance.yahoo.com/markets/stocks/articles/adenia-completes-partial-exit-quickmart-070000664.html?ref=blackexecutivebrief.com)). The value creation is concrete. Adenia first invested in **Tumaini in 2018** and backed its **2019 merger with Quickmart**, when the two chains ran a combined **19 stores**. Revenue has since risen **10.5 times**, from **US$37 million in FY2018 to US$389 million in FY2025**. The chain now processes about **five million customer transactions a month** and calls itself **Kenya's second-largest supermarket chain** ([Adenia — Nov 12, 2026](https://finance.yahoo.com/markets/stocks/articles/adenia-completes-partial-exit-quickmart-070000664.html?ref=blackexecutivebrief.com)). "The successful listing enables us to realise part of our investment while remaining a significant shareholder in a business with tremendous opportunities ahead," said **Martha Osier**, Partner at Adenia and a Quickmart board member ([Adenia — Nov 12, 2026](https://finance.yahoo.com/markets/stocks/articles/adenia-completes-partial-exit-quickmart-070000664.html?ref=blackexecutivebrief.com)). ### Why It Matters Exits are the binding constraint on African private equity. Most funds sell to trade buyers or other funds because local exchanges have been too shallow to take large blocks. Adenia sold half a company into the NSE and kept the rest, with Kenyan and East African investors absorbing **45%** of the shares offered. If the stock holds its opening premium, fund managers across the region gain a reference deal to show their limited partners, and founders gain leverage to negotiate IPO-based exits instead of discounted secondary sales. --- --- ## GUYANA — ExxonMobil Takes Final Investment Decision On US$12.5 Billion Longtail Gas Project ExxonMobil has made a **final investment decision on Longtail**, the **eighth development** in the Stabroek block, after Guyana's government and regulatory approvals. The company plans an additional **US$12.5 billion** investment and targets start-up in **2030** ([ExxonMobil — Nov 12, 2026](https://investor.exxonmobil.com/company-information/press-releases/detail/1214/exxonmobil-advances-next-phase-of-guyana-development-with?ref=blackexecutivebrief.com)). Longtail is a different kind of project. It targets **non-associated gas and condensate-rich reservoirs** in the southeastern Stabroek block, through an FPSO designed to process **1.2 billion standard cubic feet of gas per day** and up to **250,000 barrels of condensate per day**, with about **45 subsea production and injection wells**. Exxon says Longtail gas "could be transported to shore by pipeline," subject to future investment decisions, market demand and new infrastructure ([ExxonMobil — Nov 12, 2026](https://investor.exxonmobil.com/company-information/press-releases/detail/1214/exxonmobil-advances-next-phase-of-guyana-development-with?ref=blackexecutivebrief.com)). The production base keeps compounding. Four Stabroek projects already produce about **900,000 barrels per day**, and output is expected to exceed **1 million bpd** once the fifth, **Uaru**, starts in the fourth quarter. **Whiptail** is due in 2027 and **Hammerhead** in 2029\. ExxonMobil Guyana operates with **45%**, alongside **Hess Guyana (30%)** and **CNOOC Petroleum Guyana (25%)**. About **6,000 Guyanese** support Stabroek operations, and the operator and its contractors have spent **more than US$3.9 billion** with Guyanese suppliers since 2015 ([ExxonMobil — Nov 12, 2026](https://investor.exxonmobil.com/company-information/press-releases/detail/1214/exxonmobil-advances-next-phase-of-guyana-development-with?ref=blackexecutivebrief.com)). ### Why It Matters Guyana's oil boom has been an export story. Gas that can be piped ashore opens a domestic story: cheaper power, industrial feedstock and a manufacturing base that could serve the wider Caribbean. Caribbean contractors, fabricators and service firms see Longtail extend the Stabroek procurement pipeline into the 2030s. The **US$3.9 billion** already spent locally is the benchmark Guyanese suppliers will use to press for a larger share of a **US$12.5 billion** build. --- --- ## MOROCCO — African Development Bank Signs €434.4 Million Reform And Resilience Financing The Moroccan government and the African Development Bank Group signed a **€434.4 million** financing agreement in Rabat on November 13\. The release headline values it at nearly **4.8 billion dirhams** ([AfDB — Nov 13, 2026](https://www.afdb.org/en/news-and-events/press-releases/morocco-secures-nearly-48-billion-dirhams-reforms-98539?ref=blackexecutivebrief.com)). **Fouzi Lekjaa**, Minister of Economy, Finance and Public Performance, signed for Morocco, and Country Manager **Achraf Hassan Tarsim** signed for the Bank. The money funds the third phase of the **Economic Governance and Climate Change Resilience Support Programme (PGRCC-Phase III)**. The first component targets the state: restructuring the **public enterprise portfolio**, modernising the **public-private partnership framework** and improving the business environment to bring more SMEs into global value chains. The second modernises **water and electricity sector governance** and builds climate considerations into public policy ([AfDB — Nov 13, 2026](https://www.afdb.org/en/news-and-events/press-releases/morocco-secures-nearly-48-billion-dirhams-reforms-98539?ref=blackexecutivebrief.com)). The operation sits inside the Bank's **Global Energy and Fertiliser Crisis Response Framework**. It is designed to cushion Morocco against higher energy and transport costs from the Middle East crisis while preserving fiscal space. "Faced with external shocks, Morocco has chosen to act and stay the course on reforms," Tarsim said ([AfDB — Nov 13, 2026](https://www.afdb.org/en/news-and-events/press-releases/morocco-secures-nearly-48-billion-dirhams-reforms-98539?ref=blackexecutivebrief.com)). ### Why It Matters Budget support tied to state-enterprise restructuring and a modernised PPP framework is a deal-flow signal. Operators in water, power and logistics should expect Morocco's PPP pipeline to widen as the programme forces public enterprises to rationalise. African and diaspora contractors should track the water and electricity governance reforms most closely. Those sectors will set tariff and concession terms for the next wave of private investment. --- ## SOURCES - [Quickmart — Quickmart Officially Lists On The Nairobi Securities Exchange — Nov 12, 2026](https://corporate.quickmart.co.ke/2026/11/12/quickmart-officially-lists-on-the-nairobi-securities-exchange/?ref=blackexecutivebrief.com) - [MOBILIST — MOBILIST invests in Kenyan retailer Quickmart's IPO — Nov 12, 2026](https://www.mobilistglobal.com/news-views-events/mobilist-invests-in-kenyan-retailer-quickmarts-ipo/?ref=blackexecutivebrief.com) - [Adenia — Adenia Completes Partial Exit From Quickmart Through Oversubscribed KES 15 Billion Nairobi Listing — Nov 12, 2026](https://finance.yahoo.com/markets/stocks/articles/adenia-completes-partial-exit-quickmart-070000664.html?ref=blackexecutivebrief.com) - [ExxonMobil — ExxonMobil Advances Next Phase of Guyana Development with Longtail — Nov 12, 2026](https://investor.exxonmobil.com/company-information/press-releases/detail/1214/exxonmobil-advances-next-phase-of-guyana-development-with?ref=blackexecutivebrief.com) - [African Development Bank — Morocco secures nearly 4.8 billion dirhams for reforms and resilience — Nov 13, 2026](https://www.afdb.org/en/news-and-events/press-releases/morocco-secures-nearly-48-billion-dirhams-reforms-98539?ref=blackexecutivebrief.com) *Disclaimer: This report is for informational purposes only and does not constitute financial advice. Consult a licensed advisor before making investment decisions.*