Shares in Klarna rocketed on its stock market debut in New York. The buy now, pay later (BNPL) giant’s stock listed at $40, valuing it at £11billion.
The shares opened at $52 – a rise of 30 per cent that sent its value above £14billion. That was a boost for chief executive and founder Sebastian Siemiatkowski, whose 7 per cent stake is worth £1billion.
Klarna is one of seven companies poised to start trading in New York by Friday in what is set to be the US market’s biggest week for listings in years.
It comes after several firms, including Klarna, halted plans to float in April after US tariffs spooked investors.
Despite the surge in the Swedish firm’s share price, it is still valued well below the £34billion it reached in 2021.
Klarna has helped reshape online shopping with its short-term financing model. BNPL allows shoppers to pay in small instalments and has gained popularity since the pandemic.
IPO: Klarna, led by chief exec Sebastian Siemiatkowski (pictured with wife, Nina), whose 7% stake is now worth £1bn
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