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

Rovio Entertainment sets the initial price range for its planned IPO
Rovio Entertainment sets the initial price range for its planned IPO

Finnish mobile games and animation studio Rovio Entertainment has today set the initial price range for its planned IPO which would value the company at around $1 billion. 

The preliminary price range of €10.25-11.50 per share would give Rovio a market value of between €802-896m. 

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% stake after the listing. 

Trema currently owns 69 percent of Rovio's shares. 

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