Rovio Entertainment Corp., the company that created Angry Birds and whose total value is estimated at one billion dollars, announced on Friday the price at which it will offer its shares in the upcoming initial public offering (IPO). Upon listing on the Finnish stock exchange, the share price will range between £10.25 and £11.25, meaning Rovio could raise an additional €800 to €900 million through this process, writes The Street.
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At the beginning of September, it was announced that 54.6 percent of the company’s shares would be offered in the IPO. The sale of shares from the largest shareholder, Trema International Holdings B.V., was also announced. After the initial offering, Trema will retain a 36.6 percent ownership stake. Trading of Rovio shares is planned to begin in early October.
The planned IPO will enable Rovio to continue implementing its growth strategy, improving the company’s flexibility and competitiveness.
– The planned listing on the stock exchange will put clients, employees, and investors, as well as the gaming industry in general, in the spotlight. The listing provides an opportunity for new shareholders to be part of Rovio’s success story, said Rovio’s CEO Mika Ihamuotila.
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Rovio launched Angry Birds in 2009, and it became one of the most recognized games in the world. Since then, Rovio has invented a whole range of new games, produced the Angry Birds movie, and offered a full range of products related to the brand. Over 80 million people use one of the games designed by Rovio each month, and Angry Birds has been downloaded a staggering 3.7 billion times.
