Swedish provider Buy Now, Pay Later (BNPL) loans Klarna filed its prospectus IPO on Friday, March 14, and plans to go public on the New York Stock Exchange under the ticker symbol KLAR.
The mentioned company has not yet disclosed information about the number of equities to be offered or the expected price range.
It is worth noting that Klarna’s decision to go public in the US is a kind of blow to European stock exchanges, which are currently struggling to retain homegrown technology firms.
Klarna chief executive officer Sebastian Siemiatkowski has hinted for years that a listing of this company in the United States is more likely. In the context of these statements, he noted such advantages of the US as better visibility and more favorable conditions in terms of regulatory practice.
Klarna is currently on a gradual recovery trajectory after a dramatic downturn. In the most favorable years of its existence, the company that survived the coronavirus pandemic had a market capitalization of $46 billion. The corresponding reading was recorded after Klarna’s financing round led by SoftBank. In 2022, the market capitalization indicator showed a sharp drop of 85%. This reading was recorded at $6.7 billion in the most recent primary fundraising. Currently, analysts estimate Klarna’s market capitalization at $15 billion. This estimate was facilitated by the company’s return to profitability in 2023.
Last year, Klarna’s revenue was recorded at the $2.8 billion mark. This indicator increased by 24%. The company’s operating loss for the year was $121 million.
As we have reported earlier, Klarna CEO Says SaaS Companies to Consolidate as Customers Seek Hub of Knowledge.
