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Rovio discontinues public offering of shares due to oversubscription during IPO

Rovio discontinues public offering of shares due to oversubscription during IPO

Rovio has had to discontinue the public offering of its IPO due to oversubscription.

This means that private individuals and entities in Finland, Denmark, and Sweden can no longer subscribe to the IPO. However, the institutional offering will continue.

Rovio announced its IPO earlier in September 2017. It is expecting to be valued between $958 million and $1.07 billion once the IPO has concluded.

Flying ahead

The company is keeping busy during this period. It is now the first shirt sleeve sponsor for UK football team Everton, with the Angry Birds logo appearing on the team's left sleeve.

EVP of Games Wilhelm Taht claims the developer is "bigger and stronger" than ever following record revenues in 2017. We agree that it's doing pretty well for itself – its reached the 20th spot on our top 50 mobile game developers.


Editor

Ric is the Editor of PocketGamer.biz, having started out as a Staff Writer on the site back in 2015. He received an honourable mention in both the MCV and Develop 30 Under 30 lists in 2016 and refuses to let anyone forget about it.

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