UK government’s MOBILIST programme subscribes Ksh.1.94 billion to QuickMart IPO
Originally published by Citizen Digital — Read the original article →
The United Kingdom’s Foreign, Commonwealth & Development Office (FCDO), through its MOBILIST programme, has subscribed for US$15 million, approximately Ksh.1.94 billion, of shares in the Initial Public Offering of Quick Mart PLC (“QuickMart”), ahead of the retailer’s proposed listing on the Nairobi Securities Exchange (NSE).
At the stated Kenya shilling equivalent, the subscription represents approximately 13% of the Ksh.15 billion Offer, with share allotment to be completed in accordance with the Offer terms.
The announcement follows the previously disclosed conditional cornerstone commitment from the International Finance Corporation (IFC) – the World Bank’s private sector arm – to purchase up to US$15 million, approximately Ksh.1.94 billion, in Offer Shares, subject to the approval of IFC’s Board.
