Sections

Find out how to kick start your games industry career

Get Your Free Ticket Today

Rovio values itself at $1bn ahead of IPO

Mobile games giant sets preliminary price range at €10.25 to €11.50 per share, subscription begins next week

Fresh details have emerged on the upcoming Initial Public Offering for Rovio that values the Angry Birds firm at roughly $1bn.

In a document released to investors, the firm has released its preliminary price range for the shares and confirmed the subscription period for the IPO is expect to begin on Monday, September 18th at 10am European Time.

As previously reported, the company plans to sell €30m ($36m) worth of shares, aiming for a minimum of €10.25 ($12.26) and a maximum of €11.50 ($13.75) per share.

According to Rovio, the market capitalisation for the company based on these prices puts its value at between €820m ($959m) and €896 ($1.07bn).

This is just over half the $2bn value that some experts were predicting, although our own Rob Fahey notes that Rovio's IPO plans are more modest than the company has been in the past.

The subscription period will end on September 28th. Trading in shares on NASDAQ Helsinki is expected to begin on the stock exchange's pre-list around September 29th. Rovio is hoping to then be on the official list by October 3rd.

Find out how to kick start your games industry career

Get Your Free Ticket Today

More stories

Rovio to open Toronto studio

Angry Birds developer's new office location to be led by ex-Gameloft VP of North American Studios Julie Beaugrand

By Jeffrey Rousseau

Rovio acquires hypercasual studio Ruby Games

The Turkish developer made $7.8 million in revenue from January to June 2021

By Marie Dealessandri

Latest comments (3)

Nicholas Lovell Founder, Gamesbrief4 years ago
Some of this report is a little misleading. Although Rovio is only issuing 30m of new shares, the total value of the offering is about 488m, with existing shareholders selling a lot of their stake. It looks as if about 55% of Rovio's shares will be held in the public markets as a result of this deal, but it is mainly existing investors cashing out, not new money for Rovio.
0Sign inorRegisterto rate and reply
Nicholas Lovell Founder, Gamesbrief4 years ago
Some of this report is a little misleading. Although Rovio is only issuing 30m of new shares, the total value of the offering is about 488m, with existing shareholders selling a lot of their stake. It looks as if about 55% of Rovio's shares will be held in the public markets as a result of this deal, but it is mainly existing investors cashing out, not new money for Rovio.
0Sign inorRegisterto rate and reply
Raymond Goldsmith Chairman & CEO, ISM4 years ago
More fool those that buy in to it....
0Sign inorRegisterto rate and reply

Sign in to contribute

Need an account? Register now.