Klarna prepares for autumn bid to revive $15bn New York float

The bargain now, wage aboriginal (BNPL) elephantine Klarna is preparing to revive a nationalist listing successful New York this autumn, months aft being forced to abort a erstwhile effort amid tariff-induced marketplace turmoil.

Sky News has learnt that Klarna and its advisers are aiming to motorboat an archetypal nationalist offering (IPO) successful September oregon October if marketplace conditions are conducive.

The timing of the IPO is being continuously reviewed, according to insiders, but is apt to instrumentality spot good earlier the extremity of the year.

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In a memo sent to investors this month, and obtained by Sky News, Klarna concern main Niclas Neglen said: "Our momentum continues to build, and our volition to database remains firm.

"We're intimately monitoring marketplace conditions and volition determination swiftly erstwhile the timing aligns.

He added that shareholders should expect to beryllium notified 48 hours successful beforehand of an IPO being launched.

The institution has been attempting to shed its statement arsenic a BNPL-focused institution and reposition itself arsenic a integer slope successful caller months.

This week, it said it had been authorised by the City watchdog arsenic an Electronic Money Institution (EMI), allowing it to statesman offering cashback to its 11m UK customers aboriginal this year.

Klarna, which employs astir 5,000 people, was founded by main enforcement Sebastian Siemiatkowski, who past twelvemonth besides acceptable up a caller holding institution successful Britain.

Nevertheless, its impending listing successful the US delivered a caller disappointment to the London Stock Exchange, which had been pushing for it to interval successful the UK.

Klarna has recovered from a torrid play successful which it was forced to slash its valuation to $6.7bn (£5.3bn) successful a backing circular successful 2022.

It had erstwhile been valued astatine $46bn (£36.6bn) and drawn backing from investors specified arsenic SoftBank's Vision Fund, Sequoia Capital and Mubadala, the Abu Dhabi sovereign wealthiness fund.

Klarna declined to remark connected the imaginable timing of a 2nd effort to spell public.

John Craske, a spokesperson for the company, insisted it was not "repositioning" itself arsenic a integer slope due to the fact that it had "a afloat Swedish banking licence since 2017".