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Rovio, Maker of ‘Angry Birds,’ Plans I. P. O. in Helsinki

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The listing by the Finnish game maker would consist of share sales by its main shareholder and others, as well as a $36 million share offering.
LONDON — “Angry Birds” is among the most popular smartphone games ever. It has spawned a series of sequels, a line of toys and clothing, and a feature film.
Now, its owners want to cash in.
Rovio Entertainment, the Finnish maker of the “Angry Birds” games, said on Tuesday that it would go public in Helsinki.
The gaming company said that the initial public offering would consist of the sale of shares by its main shareholder, Trema International Holdings, and other shareholders. The company is also seeking to issue additional shares worth 30 million euros, or about $36 million, in the offering.
Rovio helped usher in the rise of smartphone games, building an empire around the “Angry Birds” brand. In the game, released in 2009, users fling birds at elaborate structures built by pigs that have stolen their eggs.
The idiosyncratic concept now has several spinoffs that rank among the most downloaded games on smartphones and tablets. Rovio’s titles have been downloaded 3.7 billion times, the company said, and its games business accounted for 79 percent of its revenue in the 12 months through June.
Its feature film grossed around $350 million worldwide; a sequel is planned for release in September 2019, according to Rovio.
The announcement of the public offering marks a turnaround for a company that struggled financially in the years following the initial release of “Angry Birds.” Rovio, like other mobile gaming companies, found it difficult to diversify beyond its hit brand.
Mikael Hed, a co-founder, stepped down as its chief executive in 2014, and the company announced plans to cut nearly 40 percent of its work force in 2015.
Mr. Hed is still executive chairman of Rovio Animation, which helped bring “The Angry Birds Movie” to the big screen last year. This year, he formed a new entertainment company, Kaiken Entertainment.
The company returned to a profit in 2016 and reported revenue of €191.7 million last year.
The Hed family still maintains a major stake in the company. Mr. Hed’s father, Kaj Hed, is the majority owner of Trema, which holds a nearly 69 percent stake in Rovio.
“Today, Rovio is stronger than ever, ” Kati Levoranta, Rovio’s chief executive, said in a news release. “I am confident in our games-first strategy. The contemplated I. P. O. and listing are an important milestone in developing Rovio into an even stronger games-first entertainment company.”
Rovio said the aim of the initial public offering was to help it carry out a growth strategy, and said it would allow the company use its shares for possible acquisitions and rewards to its employees.
In the offering, shares will be sold to individuals and corporations in Denmark, Finland and Sweden, as well as institutional investors inside and outside of Finland.
Carnegie Investment Bank and Danske Bank are the joint coordinators of the offering.

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