Helsinki: Finland’s Rovio, creator of the hugely popular smartphone game “Angry Birds”, launched its initial public offering (IPO) on the Helsinki stock exchange on Monday, valuing the company at almost 900 million euros ($1.1 billion). Rovio said it was putting 37 million shares up for sale at between 10.25 and 11.50 euros apiece in the stock flotation.
The company also hopes to raise 30 million euros in a new share issue, and its main owners, including Dutch holding Trema International, will also market a portion of their shares.
The offer, which is valid until September 26, is available to private investors in Finland, Sweden and Denmark, and institutional investors in Finland and abroad. After an overall fall in sales and the slashing of almost one in six of its workforce in 2014, followed by a loss-making 2015, the company accelerated its diversification. The “Angry Birds” movie from 2016, produced by Sony Entertainment, was a huge success as it grossed $350 million worldwide. — AFP
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