Angry Birds maker seeks $1 billion valuation in IPO

Angry Birds may soon become very rich birds. 

Rovio Entertainment, the Finnish maker of "Angry Birds" and other popular mobile games, says that its initial public share offering will value it at about $1 billion.

The company based in Espoo, Finland said Friday that the shares will be priced in the range of 10.25 euros to 11.50 euros each, for a market capitalization of between 802 million euros and 896 million euros ($953 million to $1 billion).

That valuation, however, is about half of earlier estimates that the gamemaker would seek a $2 billion IPO. It's also below the reported $2.3 billion takeover offer from rival game company Zynga five years ago, according to Bloomberg. Shares of Zynga, known for its "Words with Friends" game, have halved since is 2011 IPO, raising questions about investor appetites for game and app makers. 

CEO Kati Levoranta said the listing on the Helsinki exchange "will offer new shareholders an opportunity to become part of Rovio's success."

She said Rovio has become "a global games-first entertainment company." Best known for its Angry Birds mobile game that was launched in 2009, the company has expanded with other games, a movie and had licensed the Angry Birds brand