PT Rukun Raharja Tbk (JKSE:RAJA) announced a private placement of 407,708,250 common shares at IDR 233 per share for gross proceeds of IDR 94,996,022,250 on April 10, 2017. The transaction will include participation from returning investor PT Sentosa Bersama Mitra. The company will issue shares at premium of IDR 208 per share. The company expects to close the transaction in May 2017. The transaction is subject to shareholders’ approval.