Could Finland’s Rovio Entertainment company be flying towards the stock exchange?
A €1.7 billion IPO could be in the works for next month, according to Bloomberg, although a final decision has not yet been made.
Rovio are the Espoo-based makers of popular mobile phone game Angry Birds, which spawned endless merchandise and even a movie.
The 2016 film – starring the voices of Hollywood stars Jason Sudeikis, Maya Rudolph and Peter Dinklage – earned more than $107 million at the box office, but only received a poor 43% ‘freshness’ rating at movie industry bell-weather website Rotten Tomatoes.
However, the film helped boost Rovio’s flagging profitability. The company posted €190 million in revenue for 2016, which was up 34% from the previous year.
Technology news sites reported in June that Tencent, a Chinese gaming company that owns an 84% stake in Finland’s Supercell games studio, was interested to buy Rovio as well.
The sequel to Rovio’s Angry Birds Movie is set to premier in 2019.