Empire Sushi Owner Targets Main Market Listing

KUALA LUMPUR, Empire Premium Food Bhd, the operator of the popular Empire Sushi chain, has unveiled plans to list on the Main Market of Bursa Malaysia as part of its strategy to accelerate nationwide expansion and strengthen its market position.

According to its draft prospectus lodged with the Securities Commission Malaysia, the proposed initial public offering (IPO) will comprise the issuance of 218 million new shares alongside an offer for sale of 145 million existing shares by its current shareholder, Empire 11 Group Sdn Bhd. In total, the IPO will represent a 33% stake in the group.

Empire Premium Food Bhd is planning an initial public offering of 218 million new shares and an offer for sale of 145 million existing shares by its selling shareholder, Empire 11 Group Sdn Bhd, en route to a listing on the Main Market of Bursa Malaysia.

Of this, 293 million shares, or 26.6%, will be allocated to institutional and selected Bumiputera investors, while the retail tranche will consist of 70 million shares, representing 6.4% of the enlarged share capital. The retail offering includes 55 million shares available to the Malaysian public and 15 million shares reserved for eligible employees and persons connected with the group.

Upon completion of the listing, Empire 11 Group — jointly owned by co-founders Nicole Lim and Jordan Tan — will see its stake reduced from 100% to 67%.

From Grab-and-Go to a Growing Nationwide Network
Empire Sushi began operations in 2010 with a simple grab-and-go concept and has since evolved into a leading multi-format sushi brand in Malaysia. As of now, the group operates 132 outlets nationwide, spanning both its flagship grab-and-go format and a growing number of quick dine-in outlets.

The company has enjoyed robust financial growth in recent years. Profit after tax has more than doubled over the last three financial years, rising from RM14.59 million in FY2023 to RM26.23 million in FY2024 and further to RM37.92 million in FY2025. Revenue has also climbed steadily, from RM137.1 million in FY2023 to RM184.8 million in FY2024, and RM235.6 million in FY2025. Notably, more than 80% of the group’s revenue is derived from its grab-and-go segment, underscoring the strong consumer demand for convenience-driven dining.

IPO Proceeds to Fund Expansion and Upgrades
The group has earmarked proceeds from the IPO to finance the rollout of 56 new outlets across Malaysia between FY2027 and FY2029. These will include both grab-and-go and quick dine-in concepts to capture a wider range of customers. Additionally, funds will be used to recruit more service staff, upgrade and refurbish existing outlets, bolster working capital, and cover listing-related expenses. Maybank Investment Bank Bhd has been appointed as the principal adviser, sole bookrunner, underwriter, and placement agent for the IPO.

Empire Premium Food said the listing will not only strengthen its capital base but also enhance visibility and brand recognition, positioning the company to pursue long-term growth in Malaysia’s fast-growing quick-service restaurant sector.

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