PT Tanrise Jaya Indonesia announced a private placement of 40,000 common shares at a price of IDR 1,000,000 for gross proceeds of IDR 40,000,000,000 on December 21, 2018. The transaction will include participation from exiting investor PT. Jaya Sukses Makmur Sentosa Tbk (IDX:RISE) for 17,999 common shares. Post closing, company's capital will increase from IDR 36,000,000,000 to become IDR 200,000,000,000 and company's paid-up capital will increase from 17,999 shares or in the amount of IDR 17,999,000,000 to 57,999 shares or IDR 57,999,000,000 and the investor will retain its stake of 99% in the company.