Rovio has officially revealed plans to IPO on Nasdaq Helsinki with an initial share offering of $36 million (€30 million).
Along with issuing its own shares, Rovio's IPO will also see its largest shareholder Trema International Holdings B.V offering shares, along with other shareholders. It was previously suggested that its IPO could value the firm at $2 billion.
The developer will use the additional funds to fuel its growth and improve its strategic flexibility. It also hopes that an IPO will strengthen its brand recognition, and open up more funding options when it is considering acquisitions.
The right time
"Our results for the second quarter of 2017 show that Rovio continues its strong, profitable growth. Through our games-first strategy, we have strengthened our games portfolio and improved the key performance indicators," said Rovio CEO Kati Levoranta.
"All of our recent launches – Angry Birds Evolution, Battle Bay and Angry Birds Match – have shown better performance in key performance indicators than any previously launched Rovio game, thus suggesting additional growth potential ahead.
"Today, Rovio is stronger than ever and is well positioned in the fast growing mobile gaming market with our diversified games portfolio, proven game development talent and operational excellence as well as our large existing user base."
Rumours of a Rovio IPO were bandied around back in June 2017, when it was also reported that Tencent was looking to acquire the developer. It is currently in a good position to go public, with revenues for its last quarter clearing $100 million.
A whole host of Rovio team members will be in attendance at Pocket Gamer Connects Helsinki in two short weeks including EVP of Games Wilhelm Taht. You can still get tickets to the event from the PGC Helsinki website.