‘Angry Birds’ Maker Rovio Could Launch IPO Next Month
Rovio, the Finnish firm that makes the popular Angry Birds games, is reportedly planning to go public soon.
According to a Monday Bloomberg report, a local IPO could net Rovio $400 million and value the company at around $2 billion. Carnegie Bank, Danske Bank and Deutsche Bank are named as advising Rovio on its flotation plans, and the piece says the IPO could take place as early as September.
Minna Tuominen, Rovio’s communications chief, told Fortune that the company had no comment on what she termed “rumors.” However, Rovio itself said a couple months back that it was considering a stock exchange listing.
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Last year was a good one for Rovio, bringing the company back into profitability after a precarious couple years that saw the firm dabble in a variety of non-gaming areas, not always successfully.
Rovio attributed its 2016 fillip to both a record performance in its games division and the success of the first Angry Birds movie (a sequel will come out in 2019). The first quarter of this year also went well for the company, with Rovio taking in €56.6 million ($66.8 million) in gaming revenue and €9.7 million in brand licensing revenue.