Safaricom’s Ziidi Trader platform processed 12,426 retail applications for Quickmart Plc’s initial public offering, representing 68.4% of the total retail demand recorded.

The applications submitted through Ziidi Trader were valued at KSh 170.54 million, roughly 7.1% of the overall retail application value of KSh 2.387 billion.

Overall, the Quickmart offering attracted KSh 18.41 billion in applications against the KSh 15 billion on offer, yielding a subscription rate of 122.7%.

Retail investors contributed KSh 2.387 billion to the application pool, underscoring strong demand for shares in one of Kenya’s leading supermarket chains.

Quickmart debuted on the Nairobi Securities Exchange on Thursday, November 12, with shares trading around KSh 10, a 33% premium over the IPO price of KSh 7.50.

The IPO involved the sale of existing shares held by Sokoni Retail Kenya Limited, meaning proceeds went to the selling shareholder rather than financing new expansion for Quickmart.

Quickmart’s prospectus outlines a dividend policy targeting a payout of 95% of profit after tax for FY 2026, 90% for FY 2027, and a minimum 80% thereafter, with semi‑annual distributions expected from the first half of 2027.

Safaricom views the strong Ziidi Trader participation as an early sign that mobile investment services could broaden access to Kenya’s capital markets, traditionally dominated by institutional investors and conventional brokerages.