Raffi Ahmad's RANS Entertainment Set for IPO, Targets Up to IDR 429 Billion

The media and entertainment company owned by Raffi Ahmad and Nagita Slavina, PT Rans Entertainmen Indonesia Tbk (RANS), has officially commenced its journey towards the Indonesia Stock Exchange (BEI) through an initial public offering (IPO). The company is offering shares to investors at a price range of IDR 135 to IDR 170 per share during the book building period, which runs from 23 June to 25 June 2026. According to the information disclosure published on the Indonesia Stock Exchange on Tuesday, 23 June 2026, RANS is offering a maximum of 2.53 billion shares to the public. This amount is equivalent to 20.02 per cent of the issued and fully paid-up capital after the IPO. This move marks a new chapter for the company, which has been known for its various business activities in the media, entertainment, Intellectual Property (IP) management, event organising, and other supporting businesses. Through this initial share offering, RANS has the potential to raise substantial fresh funds from the capital market. With the established price range, the company is estimated to secure approximately IDR 340.88 billion at the price of IDR 135 per share, or IDR 429.25 billion at the price of IDR 170 per share. The proceeds from the IPO will serve as a new source of funding for the company to support business development and strengthen its existing business ecosystem. In this initial share offering process, PT Trimegah Sekuritas Indonesia Tbk (TRIM) is acting as the underwriter. RANS’s entry onto the stock exchange also has the potential to present a considerable valuation. Based on projections in the offering documents, the company’s market capitalisation after the IPO is estimated to reach approximately IDR 1.70 trillion at the price of IDR 135 per share, or approximately IDR 2.14 trillion at the price of IDR 170 per share. These figures demonstrate the scale of the business RANS has built in recent years through its various integrated business lines. With a valuation potentially exceeding IDR 2 trillion, RANS becomes one of the media and entertainment companies attracting investor attention amidst the dynamics of the Indonesian capital market.