PT Sentul City Tbk (JKSE:BKSL) announced a private placement of 3,139,690,500 series D shares at IDR 75 per share with existing investor, PT Citra Kharisma Komunika for gross proceeds of IDR 235,476,787,500 December 17, 2015. The shares to be issued have a par value of IDR 50 per share and will be issued at premium. The investor will acquire 9.09% stake in the company through this transaction.

The transaction has been approved by the shareholders of the company at its extraordinary meeting. The transaction is expected to be completed by December 29, 2015 and final result will be announced on January 4, 2016. The transaction will be carried out without the rights offer.