HELSINKI (Reuters) – Finnish pension fund Varma has trimmed its stake in mobile game and animation studio Rovio, known for its hit title Angry Birds, from 3.43 percent to 0.85 percent of shares, Rovio said on its website on Thursday.
Shares in the company, which listed on the Helsinki bourse last September, dropped 50 percent last week after Rovio published a gloomy financial outlook for this year.
After the transaction that took place in February, Varma now ranks 10th biggest shareholder in Rovio, compared to No.2 in end-January, the register showed.
Rovio’s largest investor with 40.8 percent of the shares is Trema International, a company owned by Kaj Hed, the uncle of Rovio’s co-founder Niklas Hed.
Varma was not immediately available for a comment.
Rovio is due to publish its full interim report on Friday, with investors expecting the management to explain reasons behind last week’s profit warning.
(Reporting by Jussi Rosendahl and Tuomas Forsell; Editing by Jacob Gronholt-Pedersen)