Angry Birds owner mulls IPO to fund next chapter

Rovio Entertainment — the Finnish company behind the Angry Birds mobile games phenomenon — is planning an IPO as early as next month which could value the company at around $2bn (€1.7bn).

The company could raise about $400m from a local market listing, sources said. No final decisions have been made and the company could also choose to stay private for longer.

A listing would test investors’ appetite for entertainment software, a group whose shares have declined an average of 18% from their offer prices following IPOs this year. That’s because mobile game makers often struggle to replicate the success of initial blockbusters.