Reported about 6 hours ago
Klarna Group Plc experienced a successful trading debut, gaining 15% after raising $1.37 billion in its initial public offering. The company's shares closed at $45.82, surpassing the IPO price of $40. This marked a significant recovery for Klarna, whose valuation had previously dropped sharply due to economic challenges. The IPO reflects a shift in Klarna's business focus, offering a broader range of financial products beyond its traditional buy-now, pay-later services. Despite a net loss of $153 million in the first half of the year, the company's market value now exceeds $17 billion.
Source: YAHOO