The developer of Angry Birds named the preliminary value of its securities. At the time of the company’s entry into the stock market, the price of each will be from € 10.25 to €11.50. The capitalization of the entire Rovio will be in the region of €802-896 million.
During the initial placement, the developer is going to lay down € 30 million.
The official reason for entering the market is to accelerate growth and “improve strategic flexibility.”
“Going public is an important step in the development of Rovio into an even stronger, first of all, gaming entertainment company,” said Kati Levoranta, CEO of the company.
As part of the placement, Trema International Holdings, which owns 69% of Rovio’s shares, is going to sell about 18 million shares. Another 16 million shares are sold by other shareholders of the company.
Rovio shares will officially appear on Nasdaq Helsinki on October 3.
Also on the topic:
- Rovio is officially going to IPO
- Rovio: “85% of revenue is IAP”
- Rovio doubled quarterly revenue thanks to games and the movie Angry Birds
Sources: Rovio, VentureBeat