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A company that supplies clean drinking water through vending machines has become the first Malaysian business to join PLUS.

Matrix Valley, which owns the WaterShop brand, raised £609,000 through issuing 12.3 million of its ordinary shares. The proceeds will be used to move the business into new markets and introduce a GSM system to its vending machines.

The company’s corporate adviser was Atlantic Law LLP, led by Lindsay Sloan and Nathan Rockliff. Sloan said the firm was appointed due to its expertise in complex cross-jurisdictional transactions.

“Matrix Valley’s flotation on PLUS will raise its international profile, allowing it to accelerate its expansion plans throughout the ASEAN region,” she added. “We consider the company’s admission as further evidence of the growing appeal of PLUS to international companies.”

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