Klarna is gearing up for an IPO ahead of its long-awaited initial public offering. The company started the process of restructuring the legal entity to create a holding company. This, she said, is “an important first step on the way to a possible IPO.”
The listing may take place in the first half of next year. However, Klarna may abandon the listing in London and turn to New York.
The company’s IPO could be worth between $15 billion and $30 billion, more than double the valuation it received in its last funding round in 2022, but well below the company’s $46 billion valuation in 2021.
The downgrade comes amid tough times for trailblazer BNPL, which has cut a tenth of its workforce and lost value amid a revaluation in the technology market.
Since then, the company has shown signs of recovery, reporting net income for the third quarter this week. Particularly strong growth was observed in the USA, where the gross value of goods increased by 46% compared to the previous year.
In addition, giant BNPL entered into a collective agreement with its Swedish workers to avoid a strike. The unions Unionen and Swedish Engineering have warned that their members will go on strike on November 7 if a collective agreement is not reached.
Mediators have now reached an agreement under which Klarna will become a member of BAO, the banking employers’ organization, and will be covered by the collective agreement between BAO and the unions.