Klarna shares jump 43% after pricing oversubscribed IPO
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The news: Klarna shares jumped as much as 43% on its first day of trading on the New York Stock Exchange, opening at USD 52 ($78.6) after pricing its IPO at USD 40 a share.
The numbers: The company and some of its shareholders raised approximately USD 1.37 billion, valuing the Swedish fintech at about USD 15.2 billion on a fully-diluted basis. Shares have risen as much as 43% to USD 57.20 each.
The context: The IPO had been priced above the expected range and was significantly oversubscribed. It had postponed its IPO earlier this year due to market volatility triggered by US tariffs announced by US President Donald Trump.
The IPO is part of a broader resurgence in tech listings, alongside companies like Circle and Figma.
The fintech was once valued at USD 45.6 billion in 2021 during a pandemic-driven e-commerce boom, before falling to USD 6.7 billion in a 2022 down round. Klarna has since repositioned itself as a wider financial services platform offering banking products.
The source: Bloomberg
