PT Manggala Kiat Ananda announced a private placement of 48,433,137 common shares on August 27, 2020. The transaction will involve participation from new investor, K.R.S. Corporation (TSE:9369) for 51% stake in the company. The company will issue shares through third-party allotment method. The capital of the company is IDR 50,410,000,000. The transaction is expected to close on September 30, 2020. The transaction has been approved by the board of directors of the investor.