Rovio Entertainment Corp., the maker of Angry Birds, Friday announced the initial price range for its proposed initial public offering, valuing the company at around $1 billion.
The company set out a price range of between €10.25 and €11.50 a share, which will be listed in Finland. The range gives the company a market capitalization of between €802 million ($955.5 million) and €896 million.
The IPO, announced on Sept. 5, is expected to offer 54.6% of the company shares in the float and raise proceeds of €30 million. There will also be a secondary sale by its largest shareholder Trema International Holdings B.V., and certain other shareholders.
All the shares offered will have voting rights.
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