Belfast Telegraph

Angry Birds firm set to take flight on stock exchange

The company behind Angry Birds has announced its intention to list on the Helsinki stock exchange as it looks to raise 30 million euro (£27.6 million).

Rovio Entertainment said on Tuesday that the stock market flotation will enable it to "pursue its growth strategy and improve strategic flexibility".

The initial public offering (IPO) will see Trema, Rovio's largest shareholder, sell down its stake.

Chairman Mika Ihamuotila said: "We believe Rovio is well positioned to succeed in the growing mobile gaming market and see a bright future ahead for the company.

"The contemplated IPO and listing will offer new shareholders an opportunity to participate in Rovio's success."

Rovio, which has also recently launched Angry Birds Evolution, Battle Bay and Angry Birds Match, is on a high after reporting soaring revenue in the second quarter.

Last month the firm said revenue rose to 86.2 million euro (£79.2 million) in the period as it reaped the rewards of income from The Angry Birds Movie.

The growth was also driven by a 30% increase in the number of monthly paying users for its games and a 51% increase in revenue per monthly paying user.

Chief executive Kati Levoranta said: "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.

"I am confident in our games-first strategy. The contemplated IPO and listing are an important milestone in developing Rovio into an even stronger games-first entertainment company."

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