PT Mitrakarya Multiguna announced that it has signed an agreement for a private placement of 2,024,682 common shares at IDR 500,000 per share for gross proceeds of IDR 1,012,341,000,000 on February 18, 2016. New investor, PT Fortune Mate Indonesia Tbk will subscribe 527,990 shares to acquire 18% stake in the company. Returning investor, PT Duta Pertiwi Tbk will subscribe 1,496,692 shares to hold 82% stake from 100% stake in the company.

The transaction is subject to approval by the shareholders of PT Fortune Mate Indonesia Tbk.