Klarna valued at nearly $20 billion as shares jump in NYSE debut

Group 1 - Klarna shares surged 30% in their New York debut, valuing the company at $19.65 billion, marking a significant rebound in the U.S. IPO market [1] - The IPO involved the sale of 34.3 million shares at $40 each, exceeding the marketed range of $35 to $37, which initially valued Klarna at $15.1 billion [3] - Klarna is leading a group of seven companies, including Gemini, set to go public in New York, indicating a strong resurgence in the IPO market after a prolonged dry spell [2] Group 2 - Klarna's CFO emphasized the opportunity for new shareholders and consumers to participate in the company's journey to disrupt the financial services industry [4] - The IPO raised $1.17 billion for selling shareholders, including notable investors like Sequoia Capital [4] - CEO Sebastian Siemiatkowski retained his shares, owning about 7% of the company, which is the largest Swedish firm to list in the U.S. since Spotify in 2018 [5] Group 3 - Klarna's valuation peaked at $45.6 billion in 2021 but fell to $6.7 billion a year later due to rising inflation and interest rates [6] - The company had considered a direct listing in 2021 before opting for a traditional IPO [6] - A strong aftermarket performance could encourage other fintech companies to pursue public listings [6]