UK Government acquires Ksh 1.94B stake in Quickmart
Originally published by KBC Digital — Read the original article →
Kenyan retailer Quickmart, has received a share subscription worth Ksh 1.94 billion ($15m) for its ongoing Initial Public Offering from MOBILIST programme.
The latest subscription by MOBILIST programme which is flagship public-markets programme backed by the UK Government’s Foreign, Commonwealth and Development Office (FCDO), represents 13% of the Ksh 15 billion Offer.
“We welcome MOBILIST as an investment partner as we broaden QuickMart’s ownership. We have built QuickMart around a straightforward proposition: to make fresh food and everyday essentials accessible, run our stores efficiently and reinvest the cash the business generates in disciplined growth,” said Peter Kang’iri, QuickMart Group Chief Executive Officer.