Klarna IPO: Stock Climbs 15% in Trading Debut

Klarna Group, the Swedish buy-now, pay-later service provider, began trading on the New York Stock Exchange on Wednesday after opening at $52 a share.

A total of 34.3 million shares began trading under the ticker KLAR. This makes up roughly 9% of a total 378 million shares outstanding after the initial public offering.

Shares ended the session at $45.82, or 15% above the price of $40 a share Klarna’s underwriters set on Tuesday evening. The fintech raised $1.37 billion from the sale. Based on Wednesday’s closing price, Klarna’s valuation is $17.4 billion…Read Full Article