Pt. Metalart Indonesia announced that it will receive $8.9 million in a round of funding on September 4, 2013. The company will issue equity securities in the transaction.

The round will include participation from existing investors Metalart Corporation and Metaltex Corporation. Upon completion of the transaction, Metalart Corporation and Metaltex Corporation will continue to hold 70% and 30% stake in the company. As a result of the transaction, the capital of the company will increase to $14.8 million.

The transaction is expected to close in September 2013.