Angry Birds maker Rovio values company at $1 billion

| Updated: October 24, 2017 12:37:00

Picture used only for representation. Picture used only for representation.

Finnish mobile games and animation studio Rovio Entertainment Ltd on Friday set the initial price range for its planned IPO which would value the company at around 1 billion dollars.


The preliminary price range of 10.25-11.50 euros per share would give Rovio a market value of between 802 million euros and 896 million euros ($955.34 million - $1.07 billion).


Rovio’s main owner, Trema International, which is owned by Kaj Hed, the uncle of company co-founder Niklas Hed, is expected to keep a 36.6 per cent stake after the listing.


Trema currently owns 69 per cent of Rovio’s shares.


Rovio said it expects to start trading on Helsinki bourse’s pre-list on September 29 and on the main list on October 3.

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