Empire Premium Food Bhd, operator of the Empire Sushi chain, plans to list on the Main Market of Bursa Malaysia to raise funds for branch expansion nationwide.
According to a draft prospectus filed with the Securities Commission Malaysia (SC), the company’s initial public offering (IPO) involves 218 million new shares and 145 million existing shares from Empire 11 Group Sdn Bhd.
The IPO offers a 33% stake in the group, with 293 million shares (2.6%) allocated to selected institutional and Bumiputera investors, while 70 million shares (6.4%) are for retail investors.
Of the retail offering, 55 million shares are allocated to the Malaysian public and another 15 million to eligible individuals.
After the IPO, Empire 11’s 100% stake, jointly owned by Nicole Lim and Jordan Tan, will be reduced to 67%.
In addition, the company started its ‘grab-and-go’ sushi operation in 2010 and now has 120 Empire Sushi branches across Malaysia.
Profit after tax increased from RM14.59 million in financial year 2023 to RM26.23 in 2024, in line with an increase in revenue from RM137.1 million (2023) to RM184.8 million (2024) and RM235.6 million in 2025.
More than 80% of the group's revenue is derived from 'grab-and-go' sushi operations, while the remaining balance is from 'quick dine-in' sushi outlets.
The group also plans to use the IPO funds to open 56 new branches, increase service crews and upgrade existing branches between 2027 and 2029.
