KUALA LUMPUR: Empire Premium Food Bhd, operator of the Empire Sushi chain, plans to use over half of its RM152.5mil IPO proceeds to open 56 new outlets, expanding its current network of 143 stores over the next three years.

Speaking during a press conference after the company’s prospectus launch yesterday, Empire Premium’s executive director and chief executive officer Nicole Lim said the new outlets will cover all regions in Malaysia, including high-traffic locations such as shopping malls, airports and transit hubs as part of the group’s expansion strategy, amid a muted retail outlook.