Advisors and regulators are set to earn total fees of Sh575.5 million from Quickmart’s initial public offering (IPO), marking the latest windfall from a company going public.
Quickmart’s advisors, including SBG Securities, Stanbic Bank, Dyer and Blair Investment Bank and Coulson Harney LLP, will share Sh476.2 million according to the IPO’s estimated expenses
The retailer will spend Sh70 million in marketing and advertising costs and Sh24 million as regulatory fees to the Capital Markets Authority (CMA) and the Nairobi Securities Exchange (NSE).
Quickmart will also incur Sh5.3 million in miscellaneous costs.
SBG Securities is the lead transaction advisor, sponsoring broker, and lead placing agent. Stanbic Bank is a lead transaction advisor and receiving bank while Dyer and Blair is a co-placing agent.
Coulson Harney, trading as Bowmans in Kenya, is the legal advisor. Ernst and Young LLP are the reporting accountants while Image Registrars Limited is acting as the data processing agent and share registrar.
Creide Limited is handling public relations and Adili Corporate Services Kenya LLP is the corporate governance advisor.
‘The issuer [Quickmart] estimates that the total costs and expenses associated with the offer will amount to approximately Sh575.6 million and will be borne by the selling shareholder [founders],’ Quickmart said.
‘The estimated expenses of the offer are equivalent to approximately 3.8 percent of the gross proceeds of the offer, or Sh0.29 per offer share.’
The company’s founders will receive net proceeds of Sh14.4 billion after footing the professional and regulatory fees.
Current owners of Quickmart are selling two billion shares in the company at an offer price of Sh7.5, placing the gross value of their partial exit at Sh15 billion. The IPO opened on Monday last week and closes on October 30, 2026.
Regulators and business advisory firms have reaped major windfalls this year on the back of more listings on the NSE.
The IPO of Kenya Pipeline Company (KPC) was the most lucrative, handing regulators and advisors including Faida Investment Bank a total of Sh2.99 billion.
The National Treasury raised gross proceeds of Sh106.3 billion from the sale of a 65 percent stake in the transaction. The March IPO was priced at Sh9 per share.
Family Bank paid total fees of Sh77.2 million when it listed on the NSE in June through introduction -without selling shares to the public.
Standard Investment Bank (SIB) and PricewaterhouseCoopers LLP were among the firms that were paid professional fees in the bank’s listing at a price of Sh18 per share.
Quickmart is betting on its earnings and dividend growth to attract investors to its IPO.
The retailer, which has favourable terms with its suppliers, reported a net profit of Sh1.5 billion last year, rising from Sh1.1 billion in 2024.
Sales increased to Sh50.4 billion from Sh46.7 billion on the back of opening more stores and increased shopping at existing outlets. Once listed on the Nairobi Securities Exchange (NSE), Quickmart will be the second publicly-traded retailer after Uchumi Supermarkets. Uchumi went into insolvency, with the company’s diminished operations prioritized to repay creditors.