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LONDON - Klarna Group plc (NYSE:KLAR), the digital bank and flexible payments provider, announced Wednesday the completion of its initial public offering of 34.3 million ordinary shares at $40.00 per share. The company sold 5 million shares, raising $200 million, while existing shareholders sold an additional 29.3 million shares. The stock currently trades at $44.30, up from its IPO price, with an average daily trading volume of 28.78 million shares.
The Swedish fintech company’s shares began trading on the New York Stock Exchange on Tuesday under the ticker symbol "KLAR." With a market capitalization of $17.29 billion, Klarna has established itself as a significant player in the fintech space. Get detailed financial analysis and real-time metrics with InvestingPro.
Goldman Sachs, J.P. Morgan and Morgan Stanley served as joint book-running managers for the offering, with several other financial institutions acting as bookrunners and co-managers.
Klarna has built a significant presence in the payments sector, serving approximately 111 million active consumers and 790,000 merchants across 26 countries as of June 30, according to the company’s press release. The platform facilitated $112 billion in gross merchandise volume during the twelve months ended June 30.
The IPO follows Klarna’s registration statement on Form F-1, which was declared effective by the U.S. Securities and Exchange Commission on September 9.
The company describes itself as a technology firm building a "next-generation commerce network" with a mission to "reimagine how consumers spend and save in their daily lives."
In other recent news, Klarna Group plc has priced its initial public offering at $40 per share, as stated in a press release. This price is $4 higher than the midpoint of the previously estimated range. The offering includes 34,311,274 ordinary shares, with Klarna selling 5,000,000 shares and existing shareholders selling 29,311,274 shares. Additionally, the selling shareholders have provided underwriters a 30-day option to purchase up to an additional 5,146,691 shares to cover over-allotments. These developments mark Klarna’s entry into trading on the New York Stock Exchange. The company’s IPO pricing and subsequent trading activity are being closely watched by investors and analysts. The move is seen as a significant step for Klarna in the financial markets.
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