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Angry Birds developer Rovio may go public

Rovio Angry Birds

Reports suggest that Angry Birds developer Rovio is planning an Initial Public Offering as soon as September 2017.

It is thought that Finnish company Rovio could raise around $400 million if it decides to go ahead and list on the Helsinki Stock Exchange.  The move would value the developer at around $2 billion.

Carnegie Bank A/S, Danske Bank A/S and Deutsche Bank AG are said to be advising on the possible IPO.  However it has been stressed that no final decision has been made.

If the company did go public, the move would undoubtedly help with production and marketing costs for The Angry Birds Movie 2, which is set to be released in 2019.  It would also support its games portfolio.

The news comes after rumours that Tencent tried to acquire the company in June 2017 in a deal that would value Rovio at $3 billion.  At the time it was reported that Rovio could seek an IPO at the end of the year, which serves to back up these latest claims.

Rovio’s business has escalated over the last year.  The company almost doubled its revenues year-on-year in the first quarter of 2017. This comes as a result of the phenomenal success of The Angry Birds Movie, alongside licensing and merchandising deals.

Other Finnish developers have recently listed, including Remedy Entertainment, Next Games and Nitro Games.

Image courtesy of Rovio.

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