{"id":45302,"date":"2017-09-29T11:04:47","date_gmt":"2017-09-29T11:04:47","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=45302"},"modified":"2017-09-30T05:58:40","modified_gmt":"2017-09-30T05:58:40","slug":"angry-birds-maker-rovio-valued-at-1-billion-in-ipo","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/technology\/angry-birds-maker-rovio-valued-at-1-billion-in-ipo.html","title":{"rendered":"Angry Birds maker Rovio valued at $1 billion in IPO"},"content":{"rendered":"<h2 style=\"text-align: justify;\"><span style=\"font-size: 18pt;\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif; color: #000000;\">Angry Birds maker Rovio valued at $1 billion in IPO<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">Angry Birds maker Rovio valued at $1 billion in IPO: Finnish mobile games studio Rovio Entertainment Ltd priced its initial public offering (IPO) at the top end of the initial range on Thursday, giving it a market value of 896 million euros ($1.06 billion) before its market debut on Friday.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">Rovio, whose games have been downloaded 3.7 billion times, announced its long-awaited IPO this month, saying it aimed to boost growth and take part in gaming industry consolidation.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">The price was set at 11.50 euros per share, compared with the initial range of 10.25-11.50 euros, the company said in a statement.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">Rovio raised 30 million euros in the offering, with approximately 458 million euros going to its major owners, including Trema International and venture capital firms Accel Partners and Atomico.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">\u201cIn the IPO, Rovio received gross proceeds &#8230; that will be used to support Rovio\u2019s growth strategy. We also believe that the listing will strengthen Rovio\u2019s brand recognition and brand awareness &#8230; and thus enhances Rovio\u2019s competitiveness,\u201d Chairman Mika Ihamuotila said in a statement.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">Rovio grew rapidly after the original \u201cAngry Birds\u201d game was launched in 2009, but was slow to respond to a shift to freely available mobile games that make revenue from in-game purchases.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">The company booked an operating loss and cut a third of its staff in 2015. However, sales are now recovering on the back of the 2016 release of 3D movie \u201cAngry Birds\u201d, as well as new games.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 14pt; color: #000000;\">In the first half of this year, Rovio\u2019s sales almost doubled from a year earlier to 153 million euros, while core profit increased to 42 million euros from 11 million a year earlier.<\/span><\/p>\n<p style=\"text-align: justify;\"><span style=\"font-family: Arial, Helvetica, sans-serif; font-size: 8pt; color: #000000;\">Source:http:\/\/www.reuters.com\/article\/us-rovio-ipo-price\/angry-birds-maker-rovio-valued-at-1-billion-in-ipo-idUSKCN1C31ZT<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/technology\/angry-birds-maker-rovio-valued-at-1-billion-in-ipo.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Angry Birds maker Rovio valued at $1 billion in IPO Angry Birds maker Rovio valued at $1 billion in IPO: Finnish mobile games studio Rovio Entertainment Ltd priced its initial public offering (IPO) at the top end of the initial range on Thursday, giving it a market value of 896 [&hellip;]<\/p>\n","protected":false},"author":8,"featured_media":45418,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[67348,67347,67346],"class_list":["post-45302","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-technology","tag-angry-birds-maker-rovio-valued-at-1-billion-in-ipo","tag-helping-rovio-carry-out-a-growth-strategy","tag-initial-public-offering-ipo"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/45302","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/8"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=45302"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/45302\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/45418"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=45302"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=45302"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=45302"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}