Report: Klarna Aims to List IPO in New York in H1 2025
Klarna is reportedly looking to list its recently announced initial public offering (IPO) in New York in the first half of 2025.
The Swedish buy now, pay later (BNPL) provider is asking banks to submit pitches for junior roles in the share sale, Bloomberg reported Friday (Nov. 15), citing unnamed sources.
Klarna has already selected Goldman Sachs, J.P. Morgan Chase & Co., and Morgan Stanley to lead the share sale, according to the report.
The company announced Wednesday (Nov. 13) that it confidentially submitted a draft registration statement for an IPO to the Securities and Exchange Commission (SEC).
It didn’t specify a date, saying: “The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.”
It was reported in October that Klarna was valued at $14.6 billion when shareholder Chrysalis Investments increased the value of its stake in the company.
The shareholder boosted the value of its stake from about $130.1 million in the second quarter to about $156.5 million after seeing the share prices of Klarna’s listed peers increase.
The BNPL provider’s current valuation of $14.6 billion is up from $6.7 billion at the time of a 2022 funding round, but down from $45.6 billion in a 2021 funding round.
Chrysalis said in October that the next potential window for Klarna’s IPO seems to be the first half of 2025.
In August, Klarna reported that in the first half of 2024, its revenues increased 27% and its adjusted profits increased to $66 million, compared to an adjusted loss of $45 million in the same period in 2023.
“Klarna’s massive global network continues to expand rapidly, with millions of new consumers joining and 68,000 new merchant partners,” Klarna CEO Sebastian Siemiatkowski said in an Aug. 27 press release.
In some recent additions to its partnerships, Klarna teamed up with video communications platform Zoom to give consumers greater access to Zoom’s premium services; drugstore company Rite Aid to enable it to offer BNPL options in its stores; and commerce platform Adobe Commerce to enable that firm’s merchants to offer BNPL services and other flexible payment options.
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