Kuala lumpur: Food and beverage company Empire Premium Food Bhd is set to raise RM152.6 million through its initial public offering (IPO) as it prepares to list on the Main Market of Bursa Malaysia on April 17, 2026. The company, known for its Empire Sushi brand, has outlined plans to utilize the funds for significant expansion and development.
According to BERNAMA News Agency, the company plans to allocate RM79.1 million, or 51.8 percent of the proceeds, towards the creation of 56 new outlets. These outlets will operate under grab-and-go and quick dine-in concepts over the next three years. Additionally, RM12.6 million (8.3 percent) will be dedicated to the refurbishment and upgrading of current outlets. Further financial plans include RM52.1 million (34.1 percent) for working capital, with the remaining RM8.8 million (5.8 percent) covering IPO-related fees and expenses.
During a press conference following the prospectus launch, Empire Premium's executive director and chief executive officer Nicole Lim detailed the company's expansion strategy. The focus will be on comprehensive nationwide coverage, especially in high-traffic areas such as shopping malls, airports, and transit hubs. Lim emphasized the goal to open 56 new outlets across all regions of Malaysia, targeting prime locations with adequate operational support.
Chief financial officer Lim Chung Liang provided insights into the expected costs associated with the new outlets. The average expense per outlet includes factors like renovation, inflation, and operational setup costs over the coming three years. Quick dine-in outlets are projected to cost between RM900,000 to RM1 million each, while grab-and-go outlets are estimated at RM550,000 to RM600,000, inclusive of inventory and other capital expenditures.
The IPO will offer a total of 363 million shares, with up to 293 million shares allocated for institutional offerings. This includes 137.5 million shares reserved for bumiputera investors approved by the Ministry of Investment, Trade and Industry (MITI), and 155.5 million shares for other institutional and selected investors. For retail investors, 70 million shares are designated, with a portion reserved specifically for the Malaysian public and bumiputera individuals and institutions.
Moreover, 15 million shares will be available to directors, eligible employees, and contributors to the company's success. Upon listing, Empire Premium's share capital will expand to 1.1 billion shares, leading to a market capitalization of RM770 million based on an IPO price of 70 sen per share. The IPO application process opens today and will close at 5 pm on March 31, 2026. Maybank Investment Bank Bhd is acting as the principal adviser, sole placement agent, sole bookrunner, and sole underwriter for the IPO.