Dive Brief:
- Klarna Group, the buy now, pay later provider, said Tuesday it’s reviving its initial public stock offering, aiming to raise as much as $1.27 billion.
- The company will launch the IPO with 34.3 million shares priced at $35 to $37 per share, according to a Tuesday press release, after Klarna’s IPO plan earlier this year was derailed amid turbulence in the U.S. stock market.
- Klarna will trade on the New York Stock Exchange under the symbol KLAR. Underwriters may purchase an additional 5.15 million shares to cover over-allotments within 30 days of the public offering, the company said.
Dive Insight:
Last month, Klarna announced financial results that showed a 20% jump in revenue over the same period last year and a wider net loss. The BNPL services provider finished the quarter with 790,000 merchants using its BNPL solution, a 34% increase from 2Q of 2024.
Klarna suspended its planned IPO amid severe market volatility this past spring, caused at least partly by U.S. trade tariffs imposed by the Trump administration. The company was founded 20 years ago in Stockholm, but listed its main corporate office as London in its IPO filing.
The company filed its IPO plans with U.S. regulators in March, but then abruptly reversed course the following month after the U.S. announced sweeping tariffs on trade partners. The size and scope of the tariffs led to a sharp selloff in stocks and higher market volatility as investors feared higher inflation and a potential U.S. recession.
As U.S. stocks returned to record highs in recent months, Klarna began resuming its IPO preparations, Bloomberg News reported July 31.
