Angry Birds producer plans IPO

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Helsinki, Sep 5 (IANS) Finnish gaming company and Angry Birds producer Rovio Entertainment announced on Tuesday its intention to launch an initial public offering (IPO), listing its shares on the Helsinki stock exchange market.

Rovio said that it is planning a share issue of about 30 million euros ($36 million) in connection with the contemplated IPO, Xinhua news agency reported.

The shares are expected to be offered to private individuals and entities in Finland, Sweden and Denmark, along with institutional investors in Finland and internationally.

The goal of the contemplated IPO would enable Rovio to pursue its growth strategy and improve strategic flexibility, while the listing would allow the company to obtain access to capital markets and broaden its ownership base, said Rovio in a press release.

The company did not disclose the specific time for the listing and the estimated value of the company, which people familiar with the matter speculate to be about $2 billion.

-IANS

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