PETALING JAYA: Empire Premium Food Bhd has signed a retail underwriting agreement with Maybank Investment Bank Berhad in connection with its proposed initial public offering (IPO) for the listing on the Main Market of Bursa Malaysia Securities Berhad.

The IPO will comprise up to 363 million ordinary shares, representing about 33% of the enlarged issued share capital, including an offer for sale of 145 million existing shares and a public issue of 218 million new shares. Of the IPO, 70 million shares are allocated for retail investors, including Bumiputera citizens, companies, co-operatives, and employees.

Empire Premium, through its wholly owned subsidiary Empire Sushi Sdn Bhd, operates 132 sushi outlets nationwide, offering ready-to-eat sushi products through 117 grab-and-go outlets and 15 dine-in outlets. The group plans to use the IPO proceeds mainly for outlet expansion, refurbishment, and working capital, with the remainder for IPO-related expenses.

Chief executive officer Nicole Lim said the agreement marks a pivotal stage in the company’s listing journey, adding that the group remains focused on strengthening operations and executing its growth roadmap.

Maybank IB CEO Michael Oh-Lau said the bank is honoured to support Empire Premium’s listing, noting the brand’s strong foundation and strategic network of outlets that cater to Malaysian consumer preferences.

Maybank Investment Bank Berhad acts as principal adviser, sole placement agent, bookrunner and underwriter for the IPO.

 The Sun Malaysia