PT Tirtakencana Tatawarna announced a private placement of 2,830,002 shares at the price of IDR 500,000 per share for gross proceeds of IDR 1,415,000,100,000 on December 8, 2021. The transaction included participation from existing investor PT Avia Avian Tbk which acquired 2,830,000 shares for IDR 1,415,000,000,000 and Wijono Tanoko which acquired 2 shares for IDR 1,000,000. After this capital raise, the company's authorized capital shifts to IDR 8,000,000,000,000 from IDR 2,000,000,000,000, while the issued and paid-up capital reaches IDR 2,120,000,000,000 from IDR 709,240,000,000.