News Summary

Swedish buy now, pay later (BNPL) startup Klarna is reviving its initial public offering (IPO) with plans to raise as much as $1.27 billion. The company aims to list on the New York Stock Exchange under the ticker ‘KLAR,’ with an expected valuation of up to $14 billion. Klarna, along with some of its shareholders, plans to sell approximately 34.3 million shares priced between $35 and $37 each. The offering is managed by major financial institutions including Goldman Sachs, JP Morgan, and Morgan Stanley. Despite past delays due to market fluctuations, the company has experienced significant growth, with a 54% increase in revenue in the second quarter, reaching $823 million. Klarna’s gross merchandise value also rose by 14% to $6.9 billion. Although the company reported a net loss of $53 million, this represents a 42% reduction from the previous year’s loss. Klarna’s renewed IPO efforts come as equity markets show signs of warming up to new listings.