Klarna Revives Ipo Plans, Aims To Raise $1.27b

Swedish buy-now, pay-later (BNPL) startup Klarna and its shareholders are reviving its first nationalist offering, hoping to raise arsenic overmuch arsenic $1.27 cardinal successful a listing that would worth nan institution astatine up to $14 billion.

The institution and immoderate of its shareholders are together trading astir 34.3 cardinal shares betwixt $35 and $37 each, nan institution said successful an update to its registration connection connected Tuesday. Klarna would person proceeds from astir 5.6 cardinal shares, while its shareholders are offloading astir 29 cardinal shares.

The institution plans to database its shares connected nan New York Stock Exchange nether nan ticker “KLAR”.

Klarna has agelong been expected to spell nationalist acknowledgment to nan monolithic occurrence of its BNPL lending exemplary successful nan aftermath of nan post-pandemic boom: Six years aft launching successful nan U.S., nan institution deed a valuation of more than $45 billion successful 2021. However, nan institution has been putting disconnected its IPO plans arsenic nan marketplace turned astatine nan extremity of nan ZIRP era, its value tag declining by 85% to $6.5 billion erstwhile nan 2021 task superior valuation bubble burst. 

Still, Klarna’s been increasing well: its gross roseate 54% to $823 cardinal successful nan 2nd 4th compared to a twelvemonth earlier, acknowledgment to a 14% summation successful its gross merchandise worth to $6.9 billion. The company’s bottommost statement is still successful nan reddish pinch nett nonaccomplishment coming successful astatine $53 million, though that’s 42% little than its nett nonaccomplishment of $92 cardinal a twelvemonth earlier.

Goldman Sachs, JP Morgan, and Morgan Stanley are moving nan offering, and BoFA Securities, Citigroup, Deutsche Bank, Societe Generale, UBS, and respective different banks are besides moving connected nan deal.