‘Buy now, pay later’ firm Klarna targets $1.27 billion New York IPO

STOCKHOLM: Sweden’s “buy now, pay later” financial firm Klarna announced on Tuesday it aims to raise $1.27 billion in a listing on the New York stock exchange, after a previous plan was delayed amid market volatility.

Klarna had initially announced plans for an initial public offering in November but its first effort was postponed earlier this year.

The firm did not give a date for the new listing plan but it said in a statement that its shares would be sold for between $35 and $37 apiece.

The top price range would give the company a market value of $14 billion.

Klarna’s service allows shoppers to pay up to 30 days after placing an order or making purchases in four instalments without interest.