Rovio keen for listing

ROVIO Entertainment, the games and entertainment company built around the Angry Birds global franchise, is planning an initial public offering to raise capital and improve its strategic flexibility.

The Finland-based company zoomed to worldwide fame with the phenomenal popularity of Angry Birds, but in recent years has suffered declining revenue and profits – leading to several rounds of lay-offs.

Rovio said one of the benefits of going public would be to let it use shares for potential acquisitions and to compensate employees. Rovio expects to issue about €30 million ($A45 million) worth of shares.

Shares will be listed on the Nasdaq Helsinki exchange.

Rovio develops and publishes multiple mobile games and in 2016 produced The Angry Birds Movie with Sony.