AFP
Thursday, Aug 02, 2012
STOCKHOLM - Rovio, the Finnish makers of the world's
most-downloaded mobile app "Angry Birds", will seek a stock market
listing by the end of 2013, chief financial officer Mikko Setala said in
an interview published Thursday.
"We have prepared a stock market entry for 2013. But the shareholders
have not decided when or whether it would even happen," Setala told
Swedish economic newspaper Dagens Industrii.
"If we go to the stock market, it would most likely be in the second
half of next year. We do not need to raise any more funds at the
moment," he said.
Founded in 2003, Rovio had first mentioned its public listing plans
in 2011, citing New York and Hong Kong as possible exchanges for the
IPO.
Expectations for a listing grew after the company published net
profits of 48 million euros on sales of 75.4 million euros for 2011,
prompting financial analysts to forecast astronomical valuations for the
firm.
When asked to comment on a valuation of 7 billion euros put forward
by some, Setala told the newspaper that the figure was pure
"speculation".
"We have not come up with any figures. It would a mistake to do so," he said.
Rovio is mainly owned by the three founders of the company -
including one of the shareholders' father who had remortgaged his house
to keep the company alive. Other stakes are held by various venture
capitalists such as the founder of internet telephone giant Skype,
Niklas Zennstroem.
"Angry Birds" reached more than one billion downloads in May, according to Rovio.
PS:
Looks like this bird is making a few become very rich.
Will it be a flop like Facebook?
Or it will be a hit?
I know I sure won't buy...cos no money.
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