Raffi-Nagita's RANS Entertainment Officially Lists on IDX, Hits Upper Auto-Reject on First Day

PT RANS Entertainment Indonesia Tbk (RANS), the entertainment company owned by Raffi Ahmad, was officially listed on the Indonesia Stock Exchange (IDX) on Friday (10/7/2026).

Through its Initial Public Offering (IPO), RANS issued 2,525,000,000 new shares, representing 20.02% of its fully paid-up capital, at an offer price of Rp170 per share, raising Rp429.25 billion.

At the opening of trade, RANS was quoted at Rp228 per share. The stock jumped 34.12%, hitting the upper auto reject (ARA) limit at the start of the trading session.

RANS Chief Executive Nagita Slavina said the company wanted to show that a business born from the creator economy can grow into a professional, transparent and accountable business institution without losing the creative spirit that defines its identity.

“Indonesia has extraordinary creative talent. The next challenge is how that creativity can develop into intellectual property and professionally managed companies that ultimately create jobs and sustainable economic value. We hope RANS’s journey can serve as one example that this is not only possible, but can be realised,” Nagita said at the share listing ceremony at the IDX building in Jakarta on Friday (10/7/2026).

RANS founder Raffi Ahmad added that through the IPO, the company had chosen to grow to a higher standard, with greater transparency and accountability to all shareholders and the Indonesian public.

“Public trust is an amanah (sacred responsibility) that we will continue to uphold through good governance and sustainable growth,” Raffi said.

The IPO proceeds will be used to support the company’s long-term growth strategy: around 37.61%, or Rp161.5 billion, will go towards staging concerts; 19.80%, or Rp85 billion, will fund the acquisition of a 51% stake in PT Rans Kosmetika Indonesia; and 18.64%, or Rp80 billion, will be used to develop the Cipungland play and learning attraction.

In addition, 8.15%, or Rp35 billion, will be invested in an artificial intelligence-based joint venture with PT Feedloop Global Teknologi; 6.98%, or Rp29.95 billion, will go towards partially repaying the company’s investment credit facility; and 8.82%, or Rp37.8 billion, will strengthen the working capital of PT Rans Nikmat Sejahtera.