Klarna raises nearly $1.4 billion in IPO
Klarna, a Swedish company, is going public on the New York Stock Exchange. Demand for the payment service's shares was high.
The payment service Klarna raised nearly $1.4 billion in its IPO in New York. With an offering price of $40, the Swedish company launched on the stock market on Wednesday with a valuation of just over $15 billion.
The issue price was above the targeted range of $35 to $37. According to information from the financial service Bloomberg, demand significantly exceeded supply. The proceeds of $1.37 billion (€1.17 billion) will go largely to early shareholders.
Klarna is best known for its interest-free delayed payment option for purchases. According to media reports, the Japanese company Softbank invested in the company in a 2021 financing round, based on a total valuation of just over $45 billion. A year later, the valuation fell to $6.7 billion following a cash injection.
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