Supermarket chain Quickmart began trading on the Nairobi Securities Exchange on Thursday, and its shares rose 33%, Business Daily reported. The retailer has grown from a single shop into a chain of more than 70 branches.
Family Bank share price: opening vs peak
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18
51
Opening pricePeak price
Source: Business Today Kenya (via story text)Table
Quickmart Plc shares climbed 33% on their first day of trading at the Nairobi Securities Exchange on Thursday, Business Daily reported. The listing brings one of Kenya's supermarket chains to the local bourse.
According to Tuko, the retailer started as a single outlet and now runs more than 70 branches. Tuko called the listing a major milestone in the company's growth.
On Wednesday, Business Today Kenya reported that the counter had drawn a large number of speculative traders ahead of the debut. Many hoped to profit from early price gains, the outlet said.
Traders expected Quickmart to follow the path of Family Bank, Business Today said. That stock opened at KSh 18 and later peaked at KSh 51, the outlet reported. The sources do not give Quickmart's opening price or the size of the deal.
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