Rovio the developers of Angry Birds are expecting a company market valuation between $1.07 Billion to $958 million in there upcoming IPO, as they revealed a preliminary price range between $13.74 – $12.25 per share.
These assumptions are based on the company is going to sell over €30 million worth of shares of the company. It seems Rovio will be looking to offer 54.6% of their shares to potential investors as they go IPO and have restricted their share holders to investors located in Finland, Sweden and Denmark.
Rovio will officially be listed on the Nasdaq Hesinki on October 3, 2017, under the code “ROVIO”. It is reported that the objective of the IPO is for Rovio to take the next step in become a game first entertainment company and in order to do this, they are required to obtain more funds for acquisition and remuneration of personnel.
It seems Rovio’s core business model is to only release games that hit the top grossing market. They also believe that Rovio is much more than just a gaming company. Their Angry Birds branded consumer products are already sold in more than 120 different countries along with release a feature length movie in 2016.
Much is being speculated over this IPO and there hasn’t been a great example of a gaming company successfully IPO’ing, which leaves more questions on Rovio’s approach.
Maybe another cash grab, i don’t know but it definitely is something to watch.
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