Sweden’s Klarna files for US IPO

Swedish buy-now-pay-later firm Klarna has filed paperwork with the US Securities and Exchange Commission as it looks to list in the US.

"Klarna Group Plc today confidentially submitted a draft Registration Statement on Form F-1 to the Securities and Exchange Commission (the SEC) relating to the proposed initial public offering of its ordinary shares," the company said in a brief statement on Tuesday.

It said the number of shares to be offered and the price range for the proposed offering have not yet been determined.

The initial public offering is expected to take place after the SEC completes its review process, subject to market and other conditions.

According to recent press reports, the US listing could value Klarna at more than $15bn.

Kathleen Brooks, research director at XTB, said: "There had been speculation that Klarna could list in the UK, however, this is another example of a tech company choosing the US over the UK.

"Trump may accelerate that trend, with the prospect of looser regulations and a booming stock market attracting IPOs to the US."