Rovio Entertainment, the maker of the hit mobile game “Angry Birds,” is reportedly getting ready for their IPO (initial public offering) debut on Nasdaq. The planned IPO would value the company at about $1 billion.
According to TechCrunch, the Helsinki-based mobile gaming company has announced that the initial price range for its IPO would be $12.24 to $13.73 per share. That pricing gives the company a valuation of around $1 billion.
The planned IPO
According to Forbes, Rovio plans to trade on NASDAQ Helsinki on or around October 3, under the ticker symbol ROVIO.
Rovio first announced plans for IPO on September 5. Earlier this week, it announced an initial price range of 10.25 euros to 11.50 euros per share, which give the company a market value of around 802 million euros ($950 million) to 896 million euros ($1.1 billion).
Led by CEO Kati Levoranta, Rovio hopes to raise around €30 million in its planned IPO, which it said will be used to fuel its growth strategy. These include employee compensation and some potential acquisitions. The company also sees the upcoming IPO as a way to strengthen the company’s brand recognition and awareness. Before its planned IPO, Rovio has managed to raise a total of $42 million in fresh capital funding from Accel, Atomico, Felicis Ventures and other venture capital firms.
Rovio’s mobile game “Angry Bird” has been downloaded 3.7 billion times since it first introduced to the market in 2009. The company has managed to leverage the success of the mobile game and turn it into a movie in 2016.
In addition to its hit mobile game series “Angry Birds,” the company also has its own multi-platform ToonsTV channel.
The company also announced its new publishing arm Rovio LVL11.
Other gaming-related news
In other Rovio-related stories, the “Angry Birds” creator has recently launched a new initiative to help older and more experienced people enter the gaming industry. The newly introduced MumJam 2017 will be a weekend-long game jam, which will involve various teams, according to Games Industry.
The new initiative will be held from November 11 to November 12 and will have at least one mum at each team. The team will work with game developers in order to explore and the possibility of having a career in the gaming industry. The goal is to help people find work in the gaming industry. Finally, the new initiative was announced during the European Women in Game Conference in London, UK.
