QuickMart IPO oversubscribed at 122.7% as bids hit KSh 18.4 billion
QuickMart Plc's share sale closed 122.7% subscribed, Business Today Kenya reported. Investors sent 18,492 applications for 2.45 billion shares, but only 2 billion were on offer at KSh 7.50 each.
QuickMart Plc's initial public offering has closed oversubscribed. Business Today Kenya reported a subscription rate of 122.7%. Investors bid for more shares than the retailer put up for sale. The supermarket chain offered 2 billion shares at KSh 7.50 each. It aimed to raise KSh 15 billion. Instead, 18,492 applications came in for 2.45 billion shares,…
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