Klarna set for US IPO in snub to London markets
Swedish fintech Klarna is looking to raise a minimum of $1bn (£777m) in a US initial public offering (IPO), sources told Bloomberg.
Klarna’s US filing, which could come as soon as next week, will see the firm target a valuation of more than $15bn in the New York Stock Exchange, according to people familiar with the matter.
Communication is understood to be ongoing with the payments business aiming to price the IPO in early April.
Specific details of the listing plan or timings are subject to change, Bloomberg sources said.
Klarna submitted a confidential IPO filing with the US Securities and Exchange Commission (SEC), according to a statement in November.
It is reported the firm is working with up to 15 banks on the listing including industry giants JP Morgan, Goldman Sachs and Morgan Stanley.
A US listing will deal yet another blow to the embattled London Stock Exchange (LSE). Last year, 88 companies left the LSE, including tech darling Darktrace and Paddy Power-owner Flutter – while just 18 firms joined it through new listings.
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