PT. Energy Battery Indonesia announced a private placement and it will issue 16,008,399 common shares at an issue price of IDR 100,000 each for gross proceeds of IDR 1,600,839,900,000 on January 5, 2024. The transaction will include participation from new investor, LX International Corp for 4.46% stake.

The transaction is expected to close on January 11, 2024. The transaction was approved by the board of directors of the investor company.