Asian Restaurant Chain Kisu Postpones IPO Amid Valuation Disagreements

The planned initial public offering (IPO) of the Asian restaurant chain Kisu has been indefinitely postponed after the company failed to secure its desired valuation from institutional investors. Initially, Kisu's owners had hoped for a company valuation of NIS 400 million. After negotiations, they attempted to proceed with an IPO at a valuation of NIS 330 million.

However, sources familiar with the matter told "Mamon" that the offers received were closer to NIS 270 million, leading to the decision to halt the offering. This failed IPO is seen as a negative signal for the trend of financial institutions and investors pouring money into the restaurant sector over the past year.

Kisu had previously attracted investments from prominent business figures, including Uri Max, owner of Max Stock; Adam Friedler, owner of Good Pharm; and Haim Gallis, CEO of BIG. These investors entered the company at an average valuation of NIS 175 million.

Market sources also suggested that the relatively small scale of Kisu's IPO made it less attractive to large institutional bodies. The Kisu group reported NIS 183 million in sales for the first half of 2026, with 41% coming from deliveries, marking a 26% increase. The company achieved an operating profit of NIS 24 million during this period. Kisu currently operates 8 restaurants and plans to open 4 new locations.