ROVIO ENTERTAINMENT
Maker of Angry Birds may list soon
Rovio could raise about $400m from a local market listing
London — Rovio Entertainment was planning an initial public offering (IPO) as early as September that could value the maker of the Angry Birds mobile games and movie at about $2bn, said people familiar with the matter. Rovio could raise about $400m from a local market listing, the people said, asking not to be identified as the details are not public. No final decisions had been made and the company could also choose to stay private for longer, they said. Carnegie Bank, Danske Bank and Deutsche Bank are among banks advising on a potential listing, the people said. Representatives for Rovio, Carnegie, Danske and Deutsche Bank declined to comment. A listing would test investors’ appetite for entertainment software, a sector whose shares have declined an average of 18% from their offer prices following IPOs earlier in 2017, according to data compiled by Bloomberg. Mobile game makers often struggle to replicate the success of initial blockbusters. King Digital Entertainment, the creator...
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