The Klarna Bank AB logo appears on a smartphone screen in this illustration photo in Reno, United States, on December 30, 2024.
Nurphoto | Nurphoto | Getty Images
Swedish fintech firm Klarna is looking to raise up to $1.27 billion in its long-awaited U.S. initial public offering, according to an official filing out on Tuesday.
Klarna plans to offer 34,311,274 ordinary shares priced between $35 and $37 each. The offering will value the company up to $14 billion.
The company will list its shares on the New York Stock Exchange under the symbol “KLAR.”
Klarna will offer 5.56 million of those shares, while the remaining roughly 28.8 million will be put forward by existing shareholders who are selling their stock.
Goldman Sachs, JP Morgan and Morgan Stanley are acting as joint book runners for the listing.
Klarna, which was founded in 2005, is best known for its buy now, pay later model — a service that allows consumers to split purchases into installments. But it has looked to expand into other products including piloting a debit card service in the U.S.
The filing with the Securities and Exchange Commission also revealed the company’s latest financial figures. Revenue for the June quarter rose 20% year-on-year to $823 million. Klarna posted a net loss of $53 million widening from the same period last year.
This is a breaking news story. Please check back for more.
