Angry Birds Maker Gets A $1 Billion IPO Evaluation

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The maker behind Angry Birds, Rovio Entertainment Ltd., has priced its initial public offering (IPO) on Tuesday at the high end of its initial range.

The Finish mobile games studio now has a market value of 896 million euros, which is about $1.06 billion.

The company is set to debut in the stock market on Friday.

According to a company statement, the IPO price was set at 11.50 euros per share, compared to the initial range of 10.25 to 11.50 euros.

Company Chairman Mika Ihamuotila said in a statement, “In the IPO, Rovio received gross proceeds … that will be used to support Rovio’s growth strategy. We also believe that the listing will strengthen Rovio’s brand recognition and brand awareness … and thus enhances Rovio’s competitiveness.”

“Angry Birds” took the world by storm in 2009 when it launched its mobile game app. The 3D Movie “Angry Birds” was released last year.