Two major IPOs are open to Kenyan investors in October 2026: Quickmart’s KSh 15 billion share offer and the Dangote Petroleum Refinery IPO through Kenyan Global Depository Receipts (GDRs). Both offer practical ways to participate through Kenyan investment accounts, with different securities, application channels and risks.

Quick answer (updated 15 October 2026): Quickmart IPO shares cost KSh 7.50 each and require at least KSh 3,750 for 500 shares. Dangote Kenya GDRs cost KSh 53.50 each, and the minimum investment is now KSh 535 for 10 GDRs, down from KSh 107,000. You need a valid CDS account to apply for Dangote GDRs. The Dangote IPO closes on 27 October 2026, while the Quickmart IPO closes on 30 October 2026, according to the revised Kenyan offers.

This guide covers how to buy Quickmart shares, how to apply for the Dangote IPO in Kenya, the USSD codes and online portals, the revised minimum investments, CDS account requirements and what happens after the IPOs close.

Quickmart vs Dangote IPO: Prices and Key Dates

Detail Quickmart IPO Dangote Kenya GDR offer
Security Quick Mart PLC ordinary shares GDRs representing interests in Dangote Petroleum Refinery shares
Offer price KSh 7.50 per share KSh 53.50 per GDR
Minimum application 500 shares 10 GDRs (reduced from 2,000)
Minimum investment KSh 3,750 KSh 535
Offer opens 5 October 2026 6 October 2026
Published deadline 30 October 2026, 5 p.m. EAT 27 October 2026, 5 p.m. EAT (extended)
Kenyan CDS account Required Required
Intended market Nairobi Securities Exchange Nairobi Securities Exchange, subject to conditions

These are fixed IPO offer prices, not predictions of trading prices after listing. The Dangote minimum was reduced on 9 October 2026, and the Kenyan application period was extended from 13 to 27 October.

Quickmart IPO 2026: Price, Minimum Investment and How to Apply

Quick Mart PLC is offering 2 billion existing ordinary shares at KSh 7.50 each, equivalent to a KSh 15 billion offer and an implied KSh 30 billion valuation for the company. This is a sale by an existing shareholder: Quickmart itself will not receive the offer proceeds.

How much money do you need to buy Quickmart shares?

The minimum application is 500 shares. Additional applications must follow the increments stated in the official offer documents.

Shares Cost at KSh 7.50
500 KSh 3,750
1,000 KSh 7,500
2,000 KSh 15,000
5,000 KSh 37,500
10,000 KSh 75,000

Figures exclude any applicable charges.

How to apply for Quickmart shares online

  1. Ensure you have an active CDS account. If you do not, see our guide to opening a CDS account in Kenya.
  2. Open the official application portal: quickmartipo.e-offer.app.
  3. Read the offer terms and start a new application.
  4. Enter the requested identity, contact and CDS account information.
  5. Select your share quantity and complete the required application fields.
  6. Follow the payment instructions shown for your application and retain your confirmation and payment records.

Use only the payment details provided by the official portal or an authorised placing agent. Do not send IPO money to an individual’s phone number. See our guide to verifying investment companies in Kenya for how to spot fake brokers, websites and payment instructions.

How to apply for Quickmart shares using USSD

The official Quickmart information memorandum lists *483*803# as its mobile application code for applications worth up to KSh 250,000.

Dial the code, follow the application prompts, provide the requested investor and CDS information, and complete payment according to the official instructions. For larger applications, use the online portal or an authorised placing agent.

Can you apply through Ziidi Trader?

Quickmart’s offer material also identifies Ziidi Trader as an application channel. Our complete Ziidi Trader guide explains the Safaricom service and how it works for NSE investing. See also our Ziidi Trader fees guide for the charges associated with ordinary share trading.

Ziidi Trader’s usual share-trading account arrangement is not the same as holding a personal CDS account. Follow the IPO’s specific application instructions rather than assuming the normal trading process applies to every new offer.

When does the Quickmart IPO close and list?

The published deadline for retail applications and payment is 5:00 p.m. EAT on 30 October 2026. The indicative offer timetable lists 6 November for results, 11 November for CDS credits and refunds, and 12 November 2026 for the intended NSE listing. These dates can change through official notices.

If you miss the IPO, you can seek to buy Quickmart shares through an authorised broker after they begin trading on the NSE, at the prevailing market price.

Dangote IPO 2026 in Kenya: How the GDR Offer Works

Dangote Petroleum Refinery and Petrochemicals FZE is undertaking an IPO of ordinary shares in Nigeria, at ₦525 per share. Kenyan investors can participate through a separate offer of Global Depository Receipts (GDRs), each representing an interest in one underlying ordinary share. This IPO relates to the Nigerian refinery, not a proposed refinery project in Lamu, Kenya.

The Kenyan GDR offer is priced at KSh 53.50 per receipt, with up to 728,971,962 GDRs offered. Applications opened on 6 October 2026. The original 13 October deadline was subsequently extended to 27 October 2026, and the minimum application was reduced to 10 GDRs.

Dangote IPO extended to 27 October 2026: latest Kenya update

The Dangote IPO is still open in Kenya until 5:00 p.m. EAT on Tuesday, 27 October 2026. The original deadline was 13 October. The extension covers the Kenyan GDR offer as well as the underlying Nigerian IPO.

Dangote obtained the Nigerian Securities and Exchange Commission’s approval to extend its share offer, citing strong investor interest and the need to give more African investors time to open accounts and complete verification.

You need a CDS account to take part in the Dangote IPO

A valid Kenyan CDS account is mandatory for the Dangote GDR application. Both the online and USSD routes use CDS details, and the portal checks the applicant’s information against the CDS account record.

If you do not already have one, read our step-by-step guide to opening a CDS account in Kenya. You can open an account through a licensed stockbroker or investment bank. The Kenyan offer update also says applicants can use the account-opening option available through the Dangote GDR e-offer portal. A bank account or M-PESA wallet alone does not meet the GDR requirement.

This is different from everyday NSE trading through Ziidi Trader, which does not require users to open their own personal CDS account. Read our Ziidi Trader complete guide for that separate service.

Dangote IPO minimum investment in Kenya: KSh 535

The minimum investment for Dangote GDRs in Kenya is now KSh 535. On 9 October 2026, Renaissance Capital reduced the required minimum from 2,000 GDRs (KSh 107,000) to 10 GDRs (KSh 535), after obtaining approval from the Capital Markets Authority. The price remained KSh 53.50 per GDR.

The original offer memorandum specified applications in increments of 100 GDRs after the minimum. For larger quantities, check the amended memorandum and the portal’s permitted increments before submitting.

GDRs Investment at KSh 53.50
10 KSh 535
110 KSh 5,885
210 KSh 11,235
510 KSh 27,285
1,010 KSh 54,035

These examples are based on 10 GDRs plus additional blocks of 100, excluding any applicable charges. The Nigerian ordinary-share IPO is priced separately at ₦525 per share; Kenyan applicants use the local KSh 53.50 GDR price.

The lowered entry amount makes Dangote’s offer accessible from less cash than Quickmart’s KSh 3,750 minimum, but the two investments carry different market, business and ownership risks.

How to apply for the Dangote IPO online in Kenya

The published Kenyan application portal is dangotegdr.e-offer.app. The published procedure was:

  1. Read and accept the offer terms.
  2. Confirm that you have a valid CDS account.
  3. Select New Application and provide the requested investor details.
  4. Complete the electronic form, including the investor category and GDR quantity.
  5. Submit the application and follow the official payment instructions.
  6. Keep the payment and application confirmation.

The extended Kenyan deadline is 5:00 p.m. EAT on 27 October 2026. The full application amount must be settled by the closing time. The offer memorandum allows mobile-money prompts or bank-transfer payments through the specified channels; check the current terms displayed by the portal.

How to buy Dangote GDRs using USSD in Kenya

Dial *483*250# from an active Kenyan mobile number if you are an eligible individual investor with a valid CDS account. Then:

  1. Select the option to read the offer terms and conditions.
  2. Accept the terms and choose New Application.
  3. Provide the requested CDS and identification details.
  4. Select the number of GDRs, starting from the revised minimum of 10.
  5. Follow the mobile-money payment prompt and save the SMS or email confirmation.

The offer procedure also describes options to add GDRs or complete a partial payment, provided the full amount is paid by 5:00 p.m. EAT on 27 October 2026. The USSD code is for an IPO application, not ongoing GDR trading.

Will Dangote GDRs trade on the NSE?

The offer documents provide for an intended NSE listing, but listing is conditional. The Kenyan GDR memorandum states that the GDRs will only be issued and listed if the minimum success threshold is met and the relevant Nigerian regulatory approval or no-objection is obtained.

If the minimum success threshold is not met, application funds are to be refunded without interest. If the listing-related condition is not met, the memorandum describes an alternative arrangement involving underlying shares held through an omnibus account, with liquidity supported through sales on the Nigerian Exchange. Investors should read those provisions before treating an NSE listing as guaranteed.

How to Open a CDS Account for IPOs in Kenya

A CDS account is an electronic securities account maintained through Kenya’s Central Depository System. It is used to hold shares and other eligible securities.

For documents, broker options and onboarding steps, use our full guide: How to Open a CDS Account in Kenya. If you are applying for Dangote, open the account early enough for your details to be verified before 27 October 2026.

Before sending money, check the intermediary’s current status through the Capital Markets Authority. Our guide to verifying an investment company in Kenya explains how to check licences, official websites and payment instructions.

Quickmart vs Dangote: What Are Investors Buying?

Quickmart: ordinary shares in a Kenyan supermarket company. Investors face the usual risks of retail competition, operating costs, supplier payment terms, expansion and share-price volatility. The IPO is a sale of existing shares, not new funding paid to Quickmart.

Dangote: Kenyan GDRs representing interests in ordinary shares of a Nigerian refinery company. Investors face refining-margin and crude-oil-market risks, financing and operational risks, cross-border currency exposure, and additional GDR custody and listing conditions.

The two offers have different entry costs: KSh 3,750 for Quickmart and, following the revised minimum, KSh 535 for Dangote. A smaller minimum investment does not by itself indicate a better valuation or lower risk.

If you are new to stock investing, our CDS account guide explains the traditional brokerage route, and the Ziidi Trader guide explains M-PESA-based NSE share trading.

Can You Buy the Shares After the IPO?

Once Quickmart shares begin trading, investors can place buy orders through an authorised NSE trading channel. The price may be above or below KSh 7.50.

For Dangote, post-offer trading depends on the GDR programme meeting its listing conditions. The revised Nigerian IPO timetable lists 3 November 2026 for collation of returns, 10 November for the proposed allotment basis and 17 November for the expected regulatory no-objection. CDS settlement and any NSE GDR listing follow the applicable approvals. The dates are indicative and there is no guaranteed first trading date for the GDRs. Investors should wait for official announcements rather than assume the receipts are already trading.

IPO applications do not guarantee full allotment. If an offer is oversubscribed, an investor may receive fewer securities than requested, with refunds handled under the applicable offer terms. For a local example, our Kenya Pipeline IPO allotment and oversubscription update explains what happens when demand exceeds available shares.

FAQs

Do I need a CDS account for the Dangote IPO in Kenya?

Yes. The Kenyan Dangote GDR application requires a valid CDS account. Investors without one should open an account through a licensed stockbroker or investment bank.

How much is the minimum Quickmart IPO investment?

KSh 3,750 buys the minimum 500 shares at KSh 7.50 each, excluding any applicable charges.

What is the minimum investment in Dangote GDRs?

The revised Kenyan minimum is 10 GDRs at KSh 53.50 each, or KSh 535. The initial KSh 107,000 minimum was reduced with CMA approval.

Is the Dangote IPO still open in Kenya?

Yes. The Dangote Kenya GDR application deadline was extended to 27 October 2026 at 5:00 p.m. EAT, according to the offer registrar. The Nigerian IPO deadline was extended to the same date.

When does the Quickmart IPO close?

The published closing date is 30 October 2026 at 5:00 p.m. East Africa Time.

Can I apply for Quickmart shares using USSD?

Yes. The official Quickmart information memorandum lists *483*803# for applications worth up to KSh 250,000.

Can I apply for Dangote GDRs using USSD?

Yes. Eligible individual applicants with a registered Kenyan mobile number and valid CDS account can dial *483*250# and follow the application prompts before 5:00 p.m. EAT on 27 October 2026.

Is a Ziidi Trader account the same as a CDS account?

No. Ziidi Trader uses a pooled arrangement for regular NSE trading without requiring a separate personal CDS account, but Dangote GDR applications require a valid CDS account.

Are Dangote GDRs ordinary shares?

No. They are depositary receipts representing interests in underlying ordinary shares, subject to the rights and conditions in the offer memorandum.

Can I buy Quickmart shares after the IPO?

If Quickmart lists on the NSE as planned, investors can buy shares through an authorised broker at the prevailing market price.

When is the Dangote IPO closing date in Kenya?

The extended closing date for the Kenyan Dangote GDR offer is Tuesday, 27 October 2026, at 5:00 p.m. EAT.

Can I apply for Dangote GDRs without a CDS account?

You need a valid CDS account to complete the application. If you do not have one, contact a licensed stockbroker or investment bank, or use the account-opening option offered through the official e-offer portal.

Can I buy Dangote IPO shares with KSh 535?

Yes. The Kenyan offer minimum was reduced to 10 GDRs at KSh 53.50 each, totalling KSh 535 before any applicable charges. You also need a valid CDS account.

Is the Dangote IPO for the Lamu refinery in Kenya?

No. The Kenyan GDRs represent interests in ordinary shares of Dangote Petroleum Refinery and Petrochemicals FZE, the Nigerian refinery business.