17 Dec '11, 9am

Angry Birds maker eyes Hong Kong IPO in 2013

ESPOO (Finland) - Finnish gaming firm Rovio, the creator of the world's most popular computer game, Angry Birds, is planning an initial public offering on the Hong Kong stock exchange in 2013, Finnish weekly Tekniikka & Talous reported yesterday. Rovio's marketing chief Peter Vesterbacka told the paper he aimed to grow the company's market capitalisation to a size similar to that of Walt Disney, which is valued at US$65 billion (S$85 billion). "That is the target. There is no reason why we should not be able to build a company of that size," Mr Vesterbacka said, adding that Rovio's 2011 revenues would be around US$100 million, up from US$10 million a year before. Unlike most mobile game crazes, Angry Birds has stayed atop the charts since it was launched for Apple's iPhone in 2009. It has reached a record 600 million downloads in two years, compared with rival Electronic A...

Full article: http://www.todayonline.com/Business/EDC111217-0000061/Ang...

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