Rovio said to be planning IPO valued at $2b

Published on: 14th August 2017

Company is searching for new growth after Angry Birds success and could raise $400 million.

Rovio Entertainment Oy is planning an initial public offering as early as next month that could value the maker of the Angry Birds mobile games and movie at about $2b, according to reports based on information from an unnamed source close to the company. Rovio could raise about $400m from a local market listing. No final decisions have been made and the company could also choose to stay private for longer, said the source.

Carnegie Bank A/S, Danske Bank A/S and Deutsche Bank AG are among banks advising on a potential listing, the people said. Representatives for Rovio, Carnegie, Danske and Deutsche Bank declined to comment.

Rovio, based in Espoo, Finland, reported revenue growth of 34% for 2016 to 190.3m euros ($225m) and earnings before interests and taxes of about 17.5m euros compared with a loss in the previous year. The company has been searching for new growth after its initial success with the Angry Birds mobile game.

The company sold parts of its business to Kaiken Entertainment, a startup led by former Chief Executive Officer Mikael Hed and other company veterans, in March. The sale – which included Rovio’s TV animation studio, book publishing business and some non-Angry Birds properties – was part of a reorganisation at the company.


TRA’s Toy of the Year Awards winners announced

Wow! Stuff flashes to the beat with new Chibies

VTech to launch green ELPs as part of ongoing sustainability commitment

Missing Toy Fair? Toy World’s January issue has the industry covered

Fears grow of major price rises due to increased shipping costs

Exclusive: Standing up to Amazon – a successful trading terms strategy

Inventor Adam Borton seeks students for Toy and Game School

BTHA celebrates 2020 toy trade Superhero Awards

The Lego Group launches Lego Bygge Hygge

Exclusive – You are invited: suppliers present virtual showrooms