PT Bumi Teknokultura Unggul Tbk (IDX:BTEK) announced a private placement of 4,627,745,000 common shares at a price of IDR 135.20 per share for gross proceeds of IDR 625,671,124,000 on June 3, 2018. The transaction will involve participation from no less than 50 investors including existing investor Golden Harvest Cocoa Ltd. The shares issued in the transaction will be subject to a lock-up period of 12 months from the date of issue. The transaction is subject to approval from the shareholders of the company.