Angry Birds characters Bomb, Chuck and Red are pictured during the premiere in Helsinki, Finland, May 11, 2016. REUTERS/Tuomas Forsell
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Angry Birds-maker Rovio Entertainment Oy plans to sell shares in a Helsinki initial public offering, seeking funds to support its resurgence seven years after releasing its best-selling mobile-game title. Main owner Kaj Hed, 62, and some other holders will sell shares, and Rovio will offer about 30 million euros ($36 million) of new stock, the company said Tuesday, without providing a total value for the sale. A $2 billion valuation would translate into a $1.4 billion fortune for director Hed, according to the Bloomberg Billionaires Index. He holds about 69 percent of Rovio after investing 1 million euros more than a decade ago into the company co-founded by his nephew Niklas Hed.Rovio, based in Espoo, Finland, last month reported second-quarter revenue growth of 94 percent to 86.2 million euros, with the games business increasing sales 65 percent to 61.3 million euros.
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