Klarna said on Friday (March 14) the registration form was published on Form F-1 to the Securities and Exchange Commission (SEC) in connection with the proposed initial public offering of common stock.
“The number of shares offered and the price range for the proposed offer have not yet been determined,” the company said in a press release Friday. “Klarna has applied to list common stocks on the New York Stock Exchange under the symbol “Klar.” ”
In a letter included in the F-1 form, Klarna CEO and co-founder Sebastian Siemiatkowski wrote that the company’s offering, including Buy Now, Pay (BNPL) features, attracts nearly 100 million people.
“It’s truly a surprisingly diverse group of people with one thing in common. Their responsiveness to traditional banks,” writes Siemiatkowski. “They want simple, transparent fees. They want to avoid accident costs. They want a clear, fixed view of reward for major purchases. Ultimately, they want a bank that gives them trust by putting their profits first – and yes, if possible, it’s a good one.”
Klarna said in the F-1 form that as of December 31, there were 93 million active consumers and 675,000 merchants. Additionally, the total product value (GMV) was $105 billion, revenue was $2.8 billion, and net income was $21 million at that time.
In his letter, Siemiatkowski spoke to potential investors and said, “For those who join us, you’re not just investing in the company. You’re investing in a new age of finance.”
On March 6, Klarna was probably a few days away from the IPO application, and the unnamed source said they wanted to plan to price the IPO in early April, raising at least $1 billion. According to the same source, the company targets more than $15 billion in value when listed on the New York Stock Exchange.
Klarna said in November he had “secretly filed” the IPO registration statement with the SEC.
A month ago, Chrysalis Investments increased the value of its interest in Klarna, giving the company an implicit valuation of approximately $14.6 billion.
