Jakarta. Indonesian entertainment company RANS Entertainment Indonesia, owned by celebrity couple Raffi Ahmad and Nagita Slavina, is preparing to launch an initial public offering (IPO) offering up to 2.525 billion shares, or 20.02% of its enlarged capital.

The company has set an indicative price range of Rp 135 to Rp 170 per share, which could value the offering at as much as Rp 429.25 billion ($24 million), according to its preliminary prospectus.

Raffi Ahmad remains the controlling shareholder with a 78.68% stake. Other individual shareholders include Nagita Slavina (1.24%), Soultan Ariq Rachman (3.43%), Dony Oskaria (3.42%), Kaesang Pangarep (1.14%), Sutanto Hartono (1.43%), and Hikmat Janika (0.86%).

Institutional shareholders include Indonesia Entertainment Group with a 9.04% stake and Ekonomi Baru Investasi Teknologi with 0.76%.

Dony Oskaria is the chief operating officer of Indonesia’s sovereign wealth fund, while Kaesang Pangarep is the son of former President Joko Widodo.

The IPO book-building period is scheduled to run from June 23 to June 25, 2026, with Trimegah Sekuritas acting as underwriter.

RANS reported revenue of Rp 353.37 billion in fiscal year 2025, down from Rp 410.49 billion a year earlier. Net profit also declined to Rp 56.68 billion from Rp 97.06 billion in 2024.

The company was originally established as RNR Film Internasional before changing its name to Rans Entertainmen Indonesia in July 2021.

RANS operates an integrated media and entertainment ecosystem spanning intellectual property (IP), events, and supporting businesses. Its model is built around a content-driven platform that connects audience distribution and multiple business lines under one structure.

Founded in 2018, the company is based in South Jakarta and is now headquartered at the RANS Office Building in BSD City, Tangerang Selatan.