Rovio not planning public stock offering in 2012
Finnish developer Rovio, creator of global mega-hit Angry Birds, isn't planning to go public this year. Reuters reports marketing chief Peter Vesterbacka confirmed the company, which has moved over 600 million copies of the avian slingshot game and has been valued at up to $9 billion, won't slam into New York or Hong Kong stock exchanges in 2012.
"We are not in a rush. This year is way too early for an IPO, there are too many open things, and we are in a very early stage of the Angry Birds lifecycle," said Vesterbacka. "Hong Kong is very interesting, absolutely, but again it is totally dependent on how markets develop. Asia is where all the people are, and future growth."
Analysts have been skeptical of Rovio's IPO, particularly since the company continues to only have one hit franchise.
