PT AB Sinar Mas Multifinance announced a private placement of 220,000 shares at IDR 1,000,000 per share for gross proceeds of IDR 220,000,000,000 on May 9, 2017. The transaction included participation from existing investor PT Sinar Mas Multiartha Tbk (JKSE:SMMA). Pursuant to the transaction, the investor holds 99.99855% stake in the company up from 99.99996%.