The Angry Birds Movie SonyA still from "The Angry Birds Movie." Sony
  • Rovio Entertainment Oy is the Finnish game studio that created the mobile game megahit 'Angry Birds,' and subsequent movies.
  • Anonymous sources told Bloomberg that Rovio is planning an IPO, with an estimated value of $2 billion.
  • Carnegie Bank A/S, Danske Bank A/S and Deutsche Bank AG are among banks advising on a potential listing, the people said.
Bloomberg News' sources indicate that Rovio’s IPO could take place as soon as next month. The Espoo, Finland-based company is seeking to raise some $400 million (£308 million) through public markets, at an estimated valuation of $2 billion (£1.5 billion). However, the same sources say that a final decision is pending.
Rovio posted €190 million (£172 million) in revenues in 2016, up 34% on the previous year. Earnings before interests and taxes amounted to €17.5 million (£15.9 million). The turnaround from previous years' losses was fuelled by "The Angry Birds Movie," which has helped boost game revenues.
The Finnish game maker has been looking for new growth sources after recent years' losses. This March, Rovio sold off its Vancouver-based animation arm to Kaiken, an upstart founded by Rovio's previous CEO Mikael Hed.
Rovio's biggest owner is cofounder Niklas Hedman's uncle Kaj Hed, who owns some 70% of the company. 
Read the original article on Business Insider Nordic. Copyright 2017. Follow Business Insider Nordic on Twitter.

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