PT Horizon Internusa Persada announced that it has entered in to subscription agreement to issue mandatory convertible note for gross proceeds of IDR 21,040,000,000 on August 10, 2016. The transaction will take place in two tranches with tranche one payment date on August 6, 2016 and tranche 2 payment date on September 20, 2016. The tranche one will include participation from returning investor PT Surya Semesta Internusa Tbk (JKSE:SSIA) for IDR 6,575,000,000, other investors Joy Day International, Jonathan Francis Skinner, Partner Angel II Limited, Tan Shin Wei, and Anthil Scale Ventures Pte Ltd. The tranche two will include participation from Koh Zhi Yang Lawrence, Merryland Pacific Limited, and Gobi Fund III, a fund managed by Gobi Partners.