BNPL giant Klarna has priced its IPO at $40.00 per share, providing an elevated valuation of $15 billion.
Early indications show strong demand for the shares, with a ticker price well above the expected expected range of $35 to $37.
The higher price tag reflects booming demand for fintech stocks on their debut, with Circle coasting beyond its initial pricing upon listing. With an upcoming IPO on the horizon, Figure Technology will further test the market appetite, raising the expected pricing range from an earlier figure of $18 to $20 per share.
With Klarna selling roughly 34.3 million shares, the company raised about $1.37 billion through the offering.
Klarna is expected to start trading on the New York Stock Exchange today under the ticker symbol 'KLAR'.
Update: Shares jumped at the opening bell, initially trading at $52, and reaching $45 by the close of play.
Of the 34.3 million shares Klarna sold, only 5 million were sold by the company The rest were sold by existing investors like the company’s largest shareholder Sequoia Capital. Entities controlled by Dutch billionaire Anders Holch Povlsen, Silver Lake, BlackRock, and many others sold as well. Despite cashing out some shares, all of them are holding onto the majority of their stakes.