Nairobi, Aug. 20 -- Africa-focused private equity firm Adenia is exploring the sale of its stake in Kenya's top supermarket chain Quickmart in what could lead to a multi-billion shilling deal.

The equity investor, which holds a majority stake in Quickmart, has reached out to advisers and the Nairobi Securities Exchange (NSE), according to people with knowledge of the matter, who asked not to be identified as the information is still private.

The firm has widened its stake sale options to include a listing on the Nairobi bourse, marking a rare move for a PE fund that typically sells shares to high-net-worth investors or its peers.

"Quickmart will be coming to the market as we see a major private equity fund exit," said a top CEO in Keny...