KUALA LUMPUR (Nov 28): Foodie Media Bhd (KL:FOODIE), the digital publisher best known for its KL Foodie social media brand, made a strong debut on the ACE Market of Bursa Malaysia on Friday, after receiving robust demand from investors for its initial public offering (IPO).
Shares of Foodie Media opened 35.5 sen — an 18.3% premium to its IPO price of 30 sen. The counter currently traded at 42 sen at 9.15 am, with 53.29 million, valuing it at RM372 million.
Foodie Media is primarily engaged in digital content creation, production and distribution across major social platforms, including Facebook, Instagram, TikTok, Threads, YouTube, Douyin, RedNote, Lemon8, X, Telegram, WhatsApp and its own editorial websites.
The group oversees 34 lifestyle-focused brands across Southeast Asia, spanning food and beverage, property, travel, leisure, home and living, technology, sports and automotive.
Its recognisable brands include KL Foodie, Penang Foodie, Bangkok Foodie, Singapore Foodie, Halal Foodie, Johor Foodie and Malaysia Homie. Collectively, the group commands 46 million social media followers.
The company aims to leverage this sizeable audience to accelerate its commerce and creator-platform ecosystem, enabling small and medium enterprises (SMEs) and established brands to run integrated digital campaigns and livestreaming sales.
Foodie Media's IPO raised RM41.4 million for the company and RM33.6 million for existing shareholders, including founder and internet personality Nicholas Lim Pinn Yang.
Investor demand for the IPO was oversubscribed by 24.63 times, after receiving 1.14 billion share applications for the 44.4 million shares on offer. The Bumiputera portion was oversubscribed by 13.09 times, while the remaining public tranche saw 36.18 times demand.
Over half of the IPO proceeds have been allocated for talent expansion, with plans to hire nearly 200 new staff. Foodie Media will also channel RM9.2 million towards acquiring a new building to house its livestreaming studios, upgrading production equipment and subscribing to social media management software. The remainder will be used for working capital and listing expenses.
For the financial year ended Aug 31, 2025 (FY2025), Foodie Media posted a net profit of RM9.33 million after accounting for listing expenses of RM2.52 million. Excluding these costs, adjusted net profit stood at RM11.85 million, a 57.9% surge from RM7.51 million in FY2024. Revenue grew 54.8% to RM37.09 million, from RM23.95 million previously.
Lim, 32, known online as Pinn Yang, is expected to receive nearly RM3.5 million from the sale of his shares. His wife and chief operating officer Ang Rui Mei will gain about RM2.4 million, while his brother and chief content officer Pinn Jian will receive RM2.3 million.
Maybank Investment Bank served as the principal adviser, sponsor, sole placement agent and sole underwriter for the IPO.
Read also:
Foodie Media sees adex spending flow to digital platforms from traditional medium
Foodie Media launches RM75 mil IPO at 30 sen per share
Foodie Media delivers RM9.33m full-year net profit ahead of ACE Market debut
Foodie Media IPO's retail portion oversubscribed by 24.63 times ahead of ACE Market debut
Maybank IB underwrites social media creator KL Foodie's ACE Market IPO
KL Foodie social media creator eyes ACE Market IPO