{"id":20425,"date":"2025-03-14T23:31:49","date_gmt":"2025-03-14T23:31:49","guid":{"rendered":"https:\/\/financialrush.com\/?p=20425"},"modified":"2025-03-14T23:31:49","modified_gmt":"2025-03-14T23:31:49","slug":"klarna-files-for-us-ipo-despite-market-tumult","status":"publish","type":"post","link":"https:\/\/financialrush.com\/?p=20425","title":{"rendered":"Klarna files for US IPO despite market tumult"},"content":{"rendered":"<p> \n<\/p>\n<div>\n<p>Unlock the Editor\u2019s Digest for free<\/p>\n<p class=\"article__content-sign-up-topic-description\"><span>Roula Khalaf, Editor of the FT, selects her favourite stories in this weekly newsletter.<\/span><\/p>\n<p><iframe class=\"article__content-sign-up-iframe close\" scrolling=\"no\" id=\"signUpIframe\" data-prev-url=\"\/register\/in-article-sign-up?ft-content-uuid=d3678254-c07e-4bb3-ba5c-edc40699d844\"><\/iframe><\/div>\n<div id=\"article-body\">\n<p>Klarna has filed for an initial public offering in the US as the Swedish buy now, pay later group presses ahead with its highly anticipated listing despite volatile market conditions.\u00a0<\/p>\n<p>The fintech, which confidentially filed for a listing with the US Securities and Exchange Commission in November, said on Friday that it had applied to the regulator to list its shares on the New York Stock Exchange under the ticker KLAR.<\/p>\n<p>The listing would be a significant boost to the subdued IPO market and could value <a href=\"https:\/\/www.ft.com\/stream\/464b518e-3b8a-49ee-bf94-c1b382feff68\" data-trackable=\"link\">Klarna<\/a> at as much as $15bn. The listing will be closely watched by fintech investors hoping that the sector can emerge from a funding drought driven by higher interest rates.\u00a0<\/p>\n<p>Klarna said on Friday that it had returned to profit in 2024. It reported a net profit of $21mn, against a loss of $244mn the previous year. Revenues rose almost 24 per cent to $2.81bn. <\/p>\n<p>The group became a symbol of the <a href=\"https:\/\/www.ft.com\/fintech\" data-trackable=\"link\">fintech<\/a> boom and bust cycle when its valuation crashed from $46bn in 2021, a pricetag that made it Europe\u2019s most valuable start-up, to $6.7bn just a year later.<\/p>\n<p>Its public filing comes as US stocks have fallen sharply on rising investor concerns that President Donald Trump\u2019s aggressive trade agenda will slow the world\u2019s largest economy.\u00a0The filing keeps the group on course for an IPO <a href=\"https:\/\/www.ft.com\/content\/aea83b1c-ae00-4769-81d3-bc7e194ff55d\" data-trackable=\"link\">by April<\/a>. <\/p>\n<p>More than $4tn has been erased from the value of the blue-chip S&amp;P 500 since the index hit a record high on February 19, with the tech-heavy Nasdaq Composite down 11 per cent over the same period. European stocks, in contrast, have enjoyed a strong start to the year.<\/p>\n<p>US consumer discretionary stocks, which perform well when the growth outlook is good, have performed particularly poorly as recession fears have grown.<\/p>\n<p>Shares in Affirm, a rival buy now, pay later company, have tumbled almost 40 per cent over the past month. BNPL services are particularly popular among financially vulnerable consumers, according to research conducted by the Federal Reserve Bank of New York.<\/p>\n<p>Rising volatility and plunging share prices have so far weighed on the broader IPO market, which many bankers had tipped to roar back to life under Trump after a three-year drought.\u00a0<\/p>\n<p>Data centre operator CoreWeave is preparing to file for an IPO that would value the company at more than $35bn, in what is likely to prove a significant test for a market reeling from Trump\u2019s erratic tariff announcements.<\/p>\n<p>Klarna was founded in 2005 by chief executive Sebastian Siemiatkowski, who was embroiled in a boardroom dispute caused by a rift between him and his co-founder Victor Jacobsson last year. The power struggle ended with Jacobsson\u2019s representative being <a href=\"https:\/\/www.ft.com\/content\/19ee1051-d175-41bb-96e4-9b01f21b6edc\" data-trackable=\"link\">ousted<\/a> from Klarna\u2019s board in October.<\/p>\n<p>Goldman Sachs, JPMorgan and Morgan Stanley will act as joint book runners for the IPO.<\/p>\n<\/div>\n\n<br \/><a href=\"https:\/\/www.ft.com\/content\/d3678254-c07e-4bb3-ba5c-edc40699d844\">Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"Unlock the Editor\u2019s Digest for free Roula Khalaf, Editor of the FT, selects her favourite stories in this&hellip;\n","protected":false},"author":5,"featured_media":20426,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[23],"tags":[],"class_list":["post-20425","post","type-post","status-publish","format-standard","has-post-thumbnail","category-us","cs-entry","cs-video-wrap"],"_links":{"self":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/20425","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=20425"}],"version-history":[{"count":0,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/posts\/20425\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=\/wp\/v2\/media\/20426"}],"wp:attachment":[{"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=20425"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=20425"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/financialrush.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=20425"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}