Klarna’s much-anticipated IPO is back on.
The Swedish FinTech is hoping to raise up to $1.27bn (€1.09bn) by offering just over 34.3 million ordinary shares priced at between $35 and $37 each.
The listing is expected to value Klarna at $14bn – more than double its 2022 valuation of $6.7bn.
The company had been tipped to float earlier this year but paused its plans because of the economic uncertainty caused by Donald Trump’s sweeping tariffs.
The confirmation by the global digital bank and flexible payments provider that it has chosen the New York Stock Exchange instead of the London Stock Exchange for its initial public offering is another poke in the eye for the beleaguered LSE.
Klarna has been approved to list its ordinary shares on the New York Stock Exchange under the symbol KLAR.
Goldman Sachs & Co; LLC; J.P. Morgan; Morgan Stanley; BofA Securities; Citigroupl Deutsche Bank Securities; Societe Generale; and UBS Investment Bank are among the companies assisting in the IPO.
Klarna’s decision to head to the US is another snub for the LSE and comes after British chip designer Arm chose to list on the Nasdaq.
Founded in 2005 to make online shopping easier, the Swedish FinTech has pioneered the buy-now-pay-later (BNPL) space.
The FinTech now has offices in Stockholm, London, New York, Berlin and many more.
With over 111 million shoppers, Klarna processes 2.9 million transactions daily.