According to Bloomberg, the IPO can take place in early September 2017. Carnegie Bank, Danske Bank and Deutsche Bank are reportedly among banks advising on its flotation plans. However, representatives for these three banks and Rovio declined to give any further comments.
It is expected that Rovio Entertainment – the creator of this famous game – can collect US$420 million from a local market listing. The money raised from this IPO plan is thought to be allocated to a sequel of Angry Birds The Movie, which should be released in 2019, but there is no guarantee for a massive box-office success.
Encouragingly, according to Bloomberg, the company has set up a London development studio to produce new online game franchises, but it is not expected to deliver its first title until 2019. Meanwhile, the games market is becoming more fierce with the popularity of streaming channels raising the bar for game quality and complexity, according to IHS Markit analyst Steve Bailey.
The Bloomberg Billionaires Index estimated that this US$2 billion IPO would bring US$1.4 billion to the Chairman of the Board Kaj Hed. He currently holds about 69% of Rovio's stake after having invested €1 million (roughly US$1.2 million) in the co-founded company with his nephew, Niklas Hed, more than ten years ago.
Rovio Entertainment has reported 2017 Q2 revenue of €86.2 million (roughly US$100 million), year-on-year increasing by 94%. The primary drivers of the growth were its core games, including Battle Bay and Angry Birds Evolution, and The Angry Birds Movie.
