MAIN MARKET-BOUND EMPIRE PREMIUM FOOD AIMS TO RAISE RM152.6 MLN FROM IPO

KUALA LUMPUR, March 25 (Bernama) -- Food and beverage company Empire Premium Food Bhd aims to raise RM152.6 million from its initial public offering (IPO) via a listing on the Main Market of Bursa Malaysia on April 17, 2026.

The owner-operator of the Empire Sushi brand said that from the total proceeds, RM79.1 million, or 51.8 per cent, will be utilised for the expansion of 56 new outlets under its grab-and-go and quick dine-in concepts over the next three years.

A further RM12.6 million (8.3 per cent) has been allocated for the upgrading and refurbishment of existing outlets.

“A further RM52.1 million (34.1 per cent) will be used for working capital, with the remaining RM8.8 million (5.8 per cent) set aside to defray fees and expenses relating to the IPO,” it said in a statement.

Speaking during a press conference after the company’s prospectus launch here today, Empire Premium’s executive director and chief executive officer Nicole Lim said the group’s expansion strategy will focus on broad nationwide coverage, including high-traffic locations such as shopping malls, airports and transit hubs.

“We will open another 56 outlets over the next few years, covering all regions in Malaysia. We are not targeting any specific area as all states present opportunities, and we will focus on prime locations where we have the team to support our operations,” she said.  

Meanwhile, chief financial officer Lim Chung Liang said the estimated average cost per outlet reflects a combination of factors beyond renovation, including inflation and operational setup costs over the next three years.

“On average, the cost per outlet varies by format, with quick dine-in outlets costing RM900,000 to RM1 million each, while grab-and-go outlets cost RM550,000 to RM600,000, including inventory and other capital expenditure,” he said.  

From the total of 363 million shares, up to 293 million shares are allocated for institutional offering that includes 137.5 million offer shares for bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), and 155.5 million IPO shares, comprising 7.5 million offer shares and 148 million issue shares for institutional and selected investors other than bumiputera investors approved by MITI.

For the retail offering, 70 million issue shares are allocated with 55 million issue shares reserved for the Malaysian public via balloting, including 27.5 million issue shares set aside for bumiputera individuals and institutions.

A further 15 million issue shares are allocated to directors, eligible employees and persons who have contributed to the group’s success.

Upon its listing, Empire Premium’s enlarged share capital will comprise 1.1 billion shares with a market capitalisation of RM770 million, based on the IPO price of 70 sen per share.

Application for the IPO opens today and closes at 5 pm on March 31, 2026.

Maybank Investment Bank Bhd is the principal adviser, sole placement agent, sole bookrunner and sole underwriter for the IPO exercise.

-- BERNAMA