Angry Birds maker Rovio prices IPO for $1 billion valuation

Gaming firm Rovio, the makers of Angry Birds, has said that its forthcoming IPO will value the Finnish company at $1 billion.

Rovio will list on Helsinki’s Nasdaq by October 3. The IPO will price shares at between €10.25 and €11.50 with a market value of €802-896 million. Reuters reports that Trema International, owned by Rovio chairman Kaj Hed, will maintain its 36.6% stake in Rovio.

The company announced its IPO plans last week amid speculation that the valuation would be around $2 billion.

Rovio confirmed that it had returned to profit, largely due to the success of the Angry Birds film. The listing will help Rovio grow into a bigger entertainment company. According to CEO Kati Levoranta, the firm is now “more than just a gaming company” and was bringing in revenue from the film and merchandise on top of the gaming business.