Rovio planning an IPO valued at €2bn

Rovio Entertainment eyes Angry Birds sequel after profits zoom

Rovio Entertainment eyes Angry Birds sequel after profits zoom

Rovio Entertainment is planning on launching an initial public offering as early as next month in a possible attempt to fund the Angry Birds Movie 2, reports Bloomberg.

Rovio Entertainment has laid plans to publicly trade its shares via an IPO that may value the company at a staggering $2 billion, sources have told Bloomberg.

While Rovio has yet to make concrete moves towards an IPO, the company has also been tied to other avenues that would benefit its bottom line. In the year prior, Rovio posted a loss.

Rovio, which had earlier said a listing could be possible in the future, declined to comment. The company has been searching for growth after its success with the Angry Birds game.

Giancarlo Stanton homers for sixth straight game, makes mockery of puny baseball
Manny Machado hit a grand slam off former teammate Yovani Gallardo as the Baltimore Orioles defeated the Seattle Mariners. He's already set the Miami record for homers in a season, topping Gary Sheffield's 42 in 1996.

Netmarble Games, the maker of the Lineage and Stone Age mobile games, was South Korea's biggest listing in seven years.

The revenue of its games business increased by 76.3% in the first half of this year, while the revenue of the brand licensing business made a 197 percent spike to 34.6 million, which was driven by revenues from the 3D movie. Elsewhere, Rovio also formalized an agreement with Columbia Pictures that'll see a sequel to "The Angry Birds Movie" come out in September 2019.

Rovio is 70 per cent owned by Kaj Hed, the uncle of company co-founder Niklas Hed. Since its release in May 2016, The Angry Birds Movie has grossed almost US$350 million at the global box office.

After years of falling revenue and experimentation in non-gaming markets, Rovio's fortunes rebounded in 2016 due to improved profits from its games division and success with its first Angry Birds animated movie which earned a reported 297 million euros at the box office.

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