Empire Premium Food Bhd, the owner operator of Empire Sushi is preparing to make its stock market debut, with plans to raise RM254 million through an initial public offering (IPO) on the upcoming Main Market of Bursa Malaysia.
From kiosk sushi to national giant
According to the prospectus launched on Wednesday, the initial public offering (IPO) is priced at 70 sen per share, aiming to raise RM152.6 million for the company and RM101.5 million for its co-founders, Jordan Tan and Nicole Lim.
Retail applications will close on March 31, while order-taking for the institutional tranche ending on April 1. The final share price will be set based on the lower of the retail or institutional price after bookbuilding.
Founded on a simple concept of affordable, ready-to-eat sushi, Empire Sushi has rapidly expanded across Malaysia. Today, the group operates over 143 outlets nationwide, including both grab-and-go kiosks and dine-in formats. It posted a net profit of RM37.92 million on revenue of RM235.6 million in FY2025.
Over 360 million shares on offer
Total IPO will be 363 million shares, including 218 million new issue shares and 145 million existing shares for sale.
While 293 million shares will be allocated for institutional investors (145 million offer shares and 148 million issue shares), and 137.5 million shares for Bumiputera investors under approval from MITI.
70 million shares are reserved for retail investors, including the Malaysian public and eligible employees.
56 new outlets targeted to be opened in the next three years
Over the next three years, the company plans to open 56 new outlets, expanding nationwide with a focus on prime locations.
Approximately 51.8% of IPO proceeds (about RM79.1 million) will go towards expansion and other uses include working capital, outlet upgrades, and listing costs.
The co-founder Nicole said Empire Premium emphasizes organic growth, quality control and halal certification, choosing not to franchise at this stage to maintain standards.
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