From mint · · 1m
Quick Mart IPO Strong Demand
Quick Mart's IPO sees 23% oversubscription as Kenya's second listing this year.
In brief
Quick Mart's IPO sees 23% oversubscription as Kenya's second listing this year. Quick Mart Plc's IPO received 23% oversubscription with 2.45 billion shares applied for at 7.50 shillings each. Originally reported by mint.
Quick Mart IPO Demand
Quick Mart Plc saw demand for shares in its initial public offering exceed the number available by almost 23%.
Share Applications
Investors applied for 2.45 billion shares at 7.50 shillings each while 2 billion were on offer.
Applications Received
The firm got 18,492 applications from Kenyan and East African retail investors.
Cornerstone Investors
Four cornerstone investors support the transaction including Redwheel Group’s RWC Asset Management LLP and 337 Frontier.
Share Allocation
Just over 18,000 Kenyan investors received 119.6 million shares while 44 foreign buyers got 236 million shares.
Trading Start
Quick Mart shares will begin trading on the Nairobi Securities Exchange on Nov. 12.
What to remember
Quick Mart Plc's IPO received 23% oversubscription with 2.45 billion shares applied for at 7.50 shillings each.
