Klarna Group PLC (NYSE:KLAR) priced its U.S. IPO at $40 per share, valuing the Swedish buy now, pay later firm at about $15.1 billion, several media reports showed on Tuesday.
Reports from Bloomberg, Reuters, and the Financial Times showed Klarna raised about $1.4 billion in its IPO, which was roughly 26 times oversubscribed. Klarna’s share pricing was also above the $35 to $37 marketing range outlined by the firm.
The company’s shares will begin trading on Wednesday.
Klarna had delayed its IPO earlier in the year amid heightened market volatility sparked by the announcement of U.S. President Donald Trump’s trade tariffs.
The Swedish fintech firm pioneered the buy now, pay later model of microfinancing small consumer loans for discretionary purchases. Its valuation had surged as high as $46 billion in 2021, following a Softbank-led investment round– before slumping to $6.7 billion in 2022 amid rising global interest rates.
Klarna’s listing comes amid a recovery in the U.S. IPO market in recent months, with design software developer Figma Inc (NYSE:FIG) and cryptocurrency exchange Bullish Inc (NYSE:BLSH) both raising over $1 billion in their respective offerings this year.
Crypto exchange Gemini, which is run by the Winklevoss twins, will also debut later this week.
Source :
https://www.investing.com/news/stock-market-news/klarna-prices-ipo-at-40-per-share-at-151-bln-valuation-reports-4232463
