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Rovio Entertainment Debuts on Nasdaq Helsinki .

The Nasdaq Helsinki Stock Exchange Launched the IPO of Angry Birds maker, Rovio Entertainment.

Rovio Entertainment Debuts on Nasdaq Helsinki

Rovio Entertainment IPO and Nasdaq Helsinki Angry Birds

Photo by: Outi-Kaisa Ollikainen

In one of the most anticipated IPOs of the year in the Nordics, Rovio Entertainment, the maker of the Angry Birds game, debuted on the Nasdaq Helsinki on Friday. 

The company’s IPO raised EUR 30 million in initial trading. It was oversubscribed by multiple times. In the share offering, the sellers received gross proceeds of approximately EUR 458 million. When compared with the amount raised, this is the biggest IPO in the Nordics so far this year. The company’s market cap was EUR 896 million at the end of the first day of trading on Friday, September 29th.

In the Friday’s listing ceremony the largest owner of Rovio, Kaj Hed, gave a warm speech thanking his nephew, Niklas Rovio for founding the Angry Birds game. The chairman of the board of Rovio Entertainment and Marimekko, Mika Ihamuotila, thanked Kaj Hed for his support for Rovio during all the years as a private start-up. In her speech, she noted that people often forget the role of the owners in the background – without them there would be no success stories.

"We feel extremely happy and honoured to have received so much interest towards Rovio’s IPO both by Finnish and international investors. Today's listing in Nasdaq Helsinki is an important milestone in developing Rovio into an even stronger games-first entertainment company", comments Kati Levoranta, CEO of Rovio.

“We congratulate Rovio on its listing today, and warmly welcome the company to Nasdaq Helsinki”, said Henrik Husman, President of Nasdaq Helsinki. “It is truly an honor for us to have a world-known gaming company to join our markets, and we look forward to supporting Rovio with the strong liquidity and international investor reach that a listing on our main market brings.”

“Rovio truly embodies the innovation currently taking place in the Nordics and we are excited to have them join the Nasdaq family,” said Adam Kostyál, SVP and Head of European Listings at Nasdaq. “The success of the Nasdaq Nordic gaming sector continues to attract international gaming companies to our markets, and we look forward to supporting Rovio on their continued growth journey as a publicly traded company.”

Rovio Entertainment IPO Bell Ceremony 3

Photo by: Outi-Kaisa Ollikainen

This is a another significant win for Nasdaq Nordic IPO efforts this year as Rovio is the 79th company to be listed on Nasdaq’s Nordic markets, and it is the 9th listing on Nasdaq Helsinki. 

For the remainder of the year, the IPO pipeline looks strong and this is most likely going to be the best listing year for the Finnish market since 2000. 

Two companies have already launched their Initial Public Offerings: Titanium, a wealth management company, and a private healthcare service provider Terveystalo. 

Terveystalo is going to mark the largest listing so far in the Nordics this year: the company’s estimated market cap is EUR 1.25 bn and the company is seeking to raise EUR 876 million.

Rovio Entertainment IPO Bell Ceremony

Photo by: Outi-Kaisa Ollikainen

This is very pleasing since after the financial crisis, the number of annual listings on Nasdaq Helsinki was down to zero or close to zero for several years -- 2008–2011. 

The tide started to turn in 2012, and 2015 with 12 new companies and 2016 with 11 listings in Finland. Now the Finnish economy has turned in a more positive direction and it is anticipated 2017 will be a good year for listings in Helsinki.


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