PT Multikarya Multiguna announced a private placement of 1,424,718 common shares at IDR 500,000 per share for gross proceeds of IDR 712,359,000,000 on June 27, 2016. The transaction included participation from returning investor PT Duta Pertiwi Tbk (JKSE:DUTI) for 1,004,685 common shares to acquire additional 43.054521% stake in the company to hold 81.99% stake in the company and new investor PT Fortune Mate Indonesia Tbk (JKSE:FMII) for 420,033 common shares to acquire 18% stake in the company. The company issued shares at nominal value.

The transaction has been approved by the shareholders of the PT Duta Pertiwi Tbk (JKSE:DUTI). The registered capital of the company increased from 908,800 common shares to 2,333,518 common shares.