DEVELOPER ANGRY BIRDS ANNOUNCED IPO4
Finnish company Rovio Entertainment plans to hold an IPO on the Helsinki Stock Exchange.
Rovio will place Nasdaq Helsinki shares worth about € 30 million. Securities will also be placed by Rovio shareholders, including Trema International Holdings BV, which controls 70% of the developer Angry Birds.
The company will offer promotions to individuals and organizations in Finland, Sweden and Denmark, as well as institutional investors (collective holders of securities) in Finland and around the world.
The company did not disclose the terms of the stock exchange. In August 2017, Bloomberg sources said that Rovio’s estimate for the IPO could be around $ 2 billion.
According to the company’s own data, Rovio’s revenue grew by 94% in the second quarter of 2017 compared with the same period a year earlier. The company’s revenue for the reporting period was € 86.2 million. The game development division increased its sales by 65% to € 61.3 million.
In 2014, Rovio reduced 16% of its employees, and in 2015 it freed almost 40% of the state. In the company, the reduction was explained by unsatisfactory growth rates of the company