Klarna Eyes IPO Amid US Expansion
The Swedish fintech Klarna's IPO could be one of the year's largest.
Klarna Bank AB is gearing up to launch an initial public offering (IPO) following its global expansion in the US, according to Chief Executive Officer (CEO) Sebastian Siemiatkowski.[1]
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“We’re definitely ready,” Siemiatkowski said Tuesday in a Bloomberg Television interview. When asked if a stock sale may occur before the first quarter (Q1) of the next year, he replied, "Anything is possible."
The Swedish fintech Klarna's IPO could be one of the year's largest.
Reports from Bloomberg earlier this year hinted at discussions with investment banks regarding the IPO, a process that CEO Siemiatkowski confirmed to be ongoing during his visit to New York for meetings with prospective banking partners. Expressing a preference for a US listing, Klarna's CEO emphasized the strategic advantage of establishing a new UK-based holding company to offer flexibility in the listing process.
Recent reports from Sky News suggest that Klarna is targeting an early next year debut on the New York Stock Exchange, with a valuation potentially soaring to $20 billion.[2]
Established in 2005, Klarna is a provider of credit services to approximately 150 million global shoppers. Notably, the company's statistics reveal that 96% of its Buy Now, Pay Later (BNPL) customers in the US settle bills either ahead of schedule or on time throughout 2023.