Swedish financial technology company Klarna saw its shares surge by 30% on their first day of trading in New York, valuing the company at $19.65 billion. This highly anticipated listing marks a significant moment for the company, ending a years-long wait, and underscores a broader revival in the U.S. Initial Public Offering (IPO) market. Klarna’s shares opened at $52, well above their IPO price of $40 apiece.
This listing comes after Klarna and several other major companies had to halt their IPO plans earlier this year due to market volatility. Klarna’s successful debut is now leading a slate of seven companies, including the crypto exchange Gemini, that are set to go public this week. Analysts suggest that this trend shows companies are being conservative with their initial valuations to attract investor demand and create a stronger post-IPO performance.
