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2 clusters · 4 sources · 3 days · First seen · Last updated

GrabSteel equity facility with White Lion Capital

Overview

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 United States-based multi-strategy family office. This represents the first outside equity commitment in the company’s history.

The capital is designated to fund the development of Matcon, a construction materials platform intended to digitize the Southeast Asian market. The platform seeks to modernize a sector valued at over US$220 billion annually, which currently relies on manual processes such as paper notes and relationship-based credit.

The agreement is contingent upon GrabSteel listing its shares on a United States exchange. The facility is structured so that White Lion Capital will purchase shares in tranches at the company’s election, providing incremental capital as Matcon grows.

Entities

Alvis Chong · Matcon · Barry Lee Wee Chan · White Lion Capital LLC · GrabSteel

Timeline

  1. [BUSINESS] 2 sources
    GrabSteel secures US$100 million equity facility from White Lion Capital

    Malaysian steel distributor GrabSteel has secured a US$100 million equity facility from White Lion Capital to develop Matcon, a digital construction materials platform for the Southeast Asian market.

  2. [BUSINESS] 2 sources
    GrabSteel secures US$100 million equity facility with White Lion Capital

    GrabSteel has secured a US$100 million equity facility from White Lion Capital to develop Matcon, a digital construction materials platform for the Southeast Asian market.

Sources

europeanbusinessmagazine.com · theinfostride.com · thesun.my · vir.com.vn