Klarna begins trading, opens at $52 per share on NYSE

IPO Details & Market Debut - Company priced its IPO at $40 per share but was indicated to open between $52 and $53 per share, representing significant upside [1] - The IPO opened at $5210 [5] and saw good demand with over $1 billion raised, indicating a revival in the IPO market [6][7] - The opening saw approximately 5 million shares traded [6] - The opening pop of around 34% is considered a good deal by the banking community, balancing gains for investors without leaving too much on the table [9][10] Valuation & Market Context - The implied valuation at the opening price is approximately $20 billion [4] - The company's growth is strong, with top-line growth of about 21% year-over-year [5] - Only about 17% of the float is primary issuance, meaning it's what the company sold and raised, with the rest largely from selling shareholders [12] Market Dynamics & Future Outlook - Larger IPOs are generally trading above their issuance price [8] - It typically takes 5-7 days for IPOs to settle and for the market to determine their valuation [9] - The market learns from past deals, influencing the pricing and demand for new issuances [15]