The Swedish BNPL giant Klarna has paused its planned IPO later this month on the New York Stock Exchange.
Klarna, which had planned to market its shares for the offering on Monday, decided to postpone this week, according to a report from the Wall Street Journal, citing sources familiar with the situation. A person familiar with Klarna’s strategy also told the FT the company was under no regulatory obligation to float within a specific timeframe and that the listing could still happen in several weeks time.
The move comes after US-based ticketing marketplace StubHub also paused its IPO, following stock market turbulence since Donald Trump took office. The latest tariffs imposed by the US president on the rest of the world has had further negative effects on the stock markets globally.
Klarna has received backing from a variety of high-profile investors, including Sequoia Capital, Abu Dhabi’s sovereign-wealth fund Mubadala Investment and Atomico.
Once priced at a lofty $45bn in 2021, Klarna’s valuation later tumbled to $6.7bn. Media reports now suggest the Swedish fintech plans to raise more than $1bn on the public market at a valuation exceeding $15bn.
Klarna has 93 million active consumers and works with more than 675,000 merchants, according to a March filing.
Klarna declined to comment.
Read the orginal article: https://sifted.eu/articles/klarna-puts-ipo-plans-on-hold/
