Swedish buy now, pay later lender Klarna (KLAR) is set to go public on the New York Stock Exchange on Wednesday after raising $1.37 billion in its initial public offering.
According to Bloomberg, the fintech company and its backers sold 34.3 million shares for $40 per share in the oversubscribed IPO, which gives the company a $15.1 billion valuation, based on the outstanding shares. This is a drop-off from its $45.6 billion valuation in 2021, led by an investment from Japan’s SoftBank Group, but an improvement from its $6.7 billion valuation in 2022 following a private funding round.
Klarna had halted its IPO plans earlier in the spring as tariff volatility rocked markets. However, Klarna is now kicking off a busy week for IPOs, with seven other companies, including the Winklevoss twins’ crypto exchange Gemini, in the lineup to make their public debuts this week.