Cyber Monday Deal: Up to 60% off InvestingProCLAIM SALE

"Angry Birds" maker Rovio plans IPO

Published 05/09/2017, 06:48
© Reuters. Angry Birds products are displayed during a news conference in Hong Kong
DBKGn
-

HELSINKI (Reuters) - Finnish mobile games and animation studio Rovio Entertainment Ltd said on Tuesday that it was planning an initial public offering (IPO) and listing of its shares in Helsinki in a long-awaited move aimed to boost growth.

The maker of the Angry Birds hit games and 3D movie said the IPO would consist of share sales by its biggest shareholders and a share issue of about 30 million euros (27.6 million pounds).

"We are very pleased with the company's strong performance in recent years... The contemplated IPO and listing will offer new shareholders an opportunity to participate in Rovio's success," Chairman Mika Ihamuotila said in a statement.

Following years of falling earnings, job cuts and restructuring, Rovio returned to profit in 2016 on the back of its Angry Birds 3D movie and recovering game sales.

Rovio said the IPO would help it boost growth and also enable it to use shares in potential acquisitions.

Carnegie and Danske are joint global coordinators in the contemplated IPO while Deutsche Bank (DE:DBKGn) are joint bookrunners, Rovio said.

Rovio is 70 percent owned by Trema International, a firm owned by Kaj Hed, the uncle of company co-founder Niklas Hed. Other investors include venture firms Accel Partners and Atomico.

© Reuters. Angry Birds products are displayed during a news conference in Hong Kong

Latest comments

Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.
© 2007-2024 - Fusion Media Limited. All Rights Reserved.