GrabSteel secures US$100 million equity facility with White Lion Capital

Malaysian steel distributor GrabSteel has entered into definitive agreements for a committed equity facility of up to US$100 million with White Lion Capital LLC, a multi-strategy family office based in the United States.

This marks the first outside equity commitment in the company’s history. The capital is intended to fund the development of Matcon, a construction materials platform designed to digitize the Southeast Asian market. The facility is contingent upon GrabSteel listing its shares on a United States exchange. Under the agreement, White Lion Capital will purchase shares in tranches at the company’s election, allowing GrabSteel to access capital as Matcon grows.