Overview
- Shares were priced at $40, above the $35–$37 range, with 34.3 million sold for an implied $15 billion valuation at the offer.
- The stock closed its first day up 14.55% at $45.82 after touching $52 intraday, valuing the company at roughly $17 billion at the close.
- Total proceeds of about $1.37 billion largely went to selling shareholders, with Klarna receiving roughly $200 million in new capital, according to the CEO.
- Founder and CEO Sebastian Siemiatkowski retained control under the new share structure and did not sell his own holdings in the IPO.
- Klarna is pushing beyond buy-now-pay-later into cards and banking products as it contends with continued losses, including a Q2 net loss of about $52 million on higher revenue.