PT Fortune Mate Indonesia Tbk (JKSE:FMII) announced a private placement of convertible bonds for gross proceeds of IDR 120 billion on February 23, 2016. The transaction will include participation from existing investors, Royal Investment Holding Company Ltd. and First Property Investment (Asia) Company for IDR 69 billion and IDR 51 billion respectively. The bonds will not carry an interest and will mature at five years from the date of issue.

The bonds will be convertible at the market value of the shares.