No date is specified in the prospectus submitted to the US financial supervisory authority SEC for when the share will be listed.
The valuation can be compared to the three major Swedish banks Handelsbanken, SEB and Swedbank, which on September 1 were in the range of 240-360 billion kronor or Daniel Ek's New York-listed streaming service Spotify, with a market value of approximately 1,335 billion kronor.
Historically higher valuation
It can also be compared to the valuation of Spotify in the IPO in 2018 at 245 billion or Volvo Cars' market value in the car manufacturer's introduction in 2021 at 163 billion.
The valuation of Klarna has also historically been at significantly higher levels.
In a new share issue in the spring of 2021, it was up at $45.6 billion, which according to the exchange rates at the time corresponded to 485 billion kronor. In a new share issue in the summer of 2022, however, the valuation had collapsed to 71.5 billion kronor.
A total of 34.3 million Klarna shares will start trading on the New York Stock Exchange in the listing. This constitutes approximately 9 percent of the total of approximately 378 million outstanding shares in the company, after the now planned new share issue.
The majority of the shares listed in the listing come from existing major owners, where the Danish Heartland is the one that gets rid of the largest post. The CEO and co-founder Sebastian Siemiatkowski is retaining his shares, according to the prospectus.
Klarna's target price for the shares in the listing is $35-37 per share, the company writes. This means that the valuation of the entire company in the listing ends up at approximately $13.6 billion (129 billion kronor).
Created by trio in 2005
The buy-now-pay-later service was created in 2005 by a Swedish entrepreneurial trio - CEO Sebastian Siemiatkowski together with Victor Jacobsson and Niklas Adalberth - but then with the name Kreditor Europe AB.
In 2015, Klarna launched its payment solution in the USA and also applied for a banking license, and in 2017 Klarna changed its name to Klarna Bank ahead of the Financial Supervisory Authority (FI) approving the company's application for a banking license.
The legal domicile was changed to London in May 2024, as a preparation for the stock exchange listing.
Corrected: In an earlier version, there was an incorrect piece of information about the valuation.
The largest owners of Klarna, according to the prospectus, voting share at present before the stock exchange offer: Venture capital company Sequoia, 21.3% Investment company Heartland, owned by the Dane Anders Holch Povlsen, 10.0% Viktor Jacobsson (founder), 8.5% Sebastian Siemiatkowski (CEO and founder), 6.9% Commonwealth Bank of Australia, 5.2%
Source: American financial supervisory authority SEC
