Angry Birds maker Rovio sets price range for $1 billion IPO
Helsinki: 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 per share would give Rovio a market value of between €802 million and €896 million ($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% stake after the listing. Trema currently owns 69 percent of Rovio’s shares.
Rovio said it expects to start trading on Helsinki bourse’s pre-list on 29 September and on the main list on 3 October.