Angry Birds game maker plots £1.5bn float
The maker of mobile phone game Angry Birds is plotting a £1.5billion float on the stock market ahead of releasing a second movie.
Finnish business Rovio Entertainment launched the smash-hit app eight years ago and set a host of records as the game’s popularity rocketed.
Bosses are reportedly seeking to raise £308million – money which could be used to fund their Angry Birds 2 film, due for release in 2019.
The game sees users catapult birds into pigs which are trying to steal their eggs.
But although its founders are now millionaires, video game firms have a history of disappointing investors when they go public.
Entertainment software companies which listed this year have since seen their values fall 18 per cent on average, according to Bloomberg analysis.
Experts believe it is because many of the companies are unable to reliably churn out follow-up hits after an initial huge success.