Rovio could launch IPO next month - Mobile World Live

Rovio could launch IPO next month

14 AUG 2017

Angry Bird maker Rovio may be planning to go public as early as September in a move which could raise $400 million and value the company at around $2 billion, Bloomberg reported.

In June the company said it could be looking into launching an initial public offering (IPO) to fund growth and strategic goals, stating: “We and our shareholders regularly assess different alternatives to further develop Rovio…A stock exchange listing at some point in the future could be possible in order to support the continued strong growth of Rovio and its strategic targets.”

At the time it was also reported Tencent was mulling a $3 billion purchase of the app maker.

Bloomberg said investor interest in entertainment software companies waned recently, as mobile game makers find it difficult to sustain the success of initial blockbusters. Angry Birds and Candy Crush are examples.

Carnegie Bank, Danske Bank and Deutsche Bank are among those advising Rovio on a potential listing.

Finland-based Rovio swung to profit at the end of 2016, in part thanks to the Angry Birds movie, which made around $350 million.

It is planning a sequel for 2019, which the IPO could help fund, and it is also working to promote newer versions of the game along with titles such as Battle Bay.

In January, Rovio said it was opening a game development studio in London, focussed on massively multiplayer online games which go “beyond the Angry Birds universe”.

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Saleha Riaz

Saleha joined Mobile World Live in October 2014 as a reporter and works across all e-newsletters - creating content, writing blogs and reports as well as conducting feature interviews...More

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