Foodie Media sees strong start on ACE Market

KUALA LUMPUR (Nov 28): Foodie Media Bhd (Foodie Media), the parent company of KL Foodie, made a firm debut on the ACE Market of Bursa Malaysia on Friday after its initial public offering (IPO) was oversubscribed by 24.63 times.

The stock opened at 35.5 sen, representing an 18.3 per cent premium over its IPO price of 30 sen.

The group operates mainly in the digital media publishing segment, producing and distributing content across a wide range of platforms including Facebook, Instagram, TikTok, YouTube, Threads, X, RedNote, Lemon8, Douyin, Telegram and WhatsApp, in addition to its network of lifestyle blogs.

On November 25, Foodie Media reported its strongest-ever financial performance for its financial year 2025 with revenue of RM37.1 million.

The group in a statement on Friday said the digital media publishing segment remained the key contributor, generating RM22.8 million or 61.5 per cent of total revenue.

Excluding a one-off listing expense of RM2.5 million, core profit after tax rose to RM11.9 million, the strongest performance in the group’s history.

Chief executive officer Nicholas Lim Pinn Yang said the successful listing and strong oversubscription demonstrated market confidence in the group’s platform and long-term direction.

He said the company will continue to strengthen its core pillars: digital media publishing, key opinion leader (KOL) marketing, affiliate commerce and campaign management while expanding into new verticals such as live commerce and short-form drama production.

“We are investing in technology, data capabilities and talent to support the next phase of our growth.

“Our dividend policy of distributing at least 40 per cent of profit after tax underscores our commitment to creating long-term value for shareholders.

“This listing marks the start of a new chapter, and we will continue building a homegrown digital media platform that delivers meaningful impact for our clients, audiences, people and investors,” he said.

Foodie Media currently manages 37 lifestyle-focused brands across Malaysia, Singapore, Thailand, Indonesia and the Philippines.

As of Oct 13, 2025, its portfolio held the largest combined follower base for lifestyle digital content in Malaysia with about 46 million followers.

Maybank Investment Bank Berhad is the Principal Adviser, Sponsor, Sole Placement Agent and Sole Underwriter for the IPO.