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Angry Birds maker Rovio sets price range for $1 billion IPO

Reuters  |  HELSINKI 

HELSINKI (Reuters) - Finnish and animation studio Entertainment Ltd on Friday set the initial price range for its planned which would value the company at around 1 billion dollars.

The preliminary price range of 10.25-11.50 euros per share would give a market value of between 802 million euros and 896 million euros ($955.34 million - $1.07 billion).

Rovio's main owner, Trema International, which is owned by Kaj Hed, the uncle of company co-founder Niklas Hed, is expected to keep a 36.6 percent stake after the listing.

Trema currently owns 69 percent of Rovio's shares.

said it expects to start trading on Helsinki bourse's pre-list on September 29 and on the main list on October 3.

($1 = 0.8395 euros)

(Reporting by Tuomas Forsell; editing by Jason Neely)

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, September 15 2017. 12:27 IST