Klarna has previously announced that their stock was going to be listed, but the whole thing was blown off the rails when Trump started with tariffs policy in April. Now the company has finally come out with its prospectus, which gives us extra information ahead of the listing.
The subscription price is expected to be $34-36/share when Klarna’s shares are listed in the US.
There will apparently be a mixed bag of shares that will be available. First, new shares will be printed for up to 1 billion kronor (new issue), but in addition to that, existing owners will sell shares. 83% of the offering consists of shares that the owners are selling.
From what I’ve heard, it’s a matter of moving quickly and Klarna will start marketing the IPO as early as Tuesday.
When everything is complete, Klarna is expected to be a fairly large company measured in market capitalization. About the same size as Sweden’s Tele2.
There is a lot of talk about Klarna CEO Sebastian Siemiatkowski keeping his shares and that it is a big advantage now that the shares are going public.
The valuation will be crazy high based on the subscription price and the adjusted operating profit the company has achieved in the last 12 months. But maybe that’s not so strange. Klarna has an extremely good position and has 790,000 partners under its umbrella. In total, it handles transactions of 112 billion dollars at an annual rate.
Above information is what I’ve heard and we’ll get more information within the next week. I already own ‘Flat Capital’ (FLAT B, Stockholm OMX) an investment company into early start-ups, which does own, shares in klarna.
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