Klarna (clear) stocks rise after us ipo

Clearly The shares jumped 30% on their New York Stock Exchange debut on Wednesday, opening at $ 52 after a Swedish online lender with an IPO estimate over its expected scope.

The company, known for its popular purchase now, pays later products, Shares at the price of $ 40 per Tuesday, raising $ 1.37 billion for the company and existing shareholders. The offer estimates Clana at about $ 15 billion.

IPO marks the latest in a growing list of high-profile IPO technologies this year, suggesting that it is increasing Search by Wall Street For new suggestions. Companies such as Stablecoin Issuer Circle and designer software platform Figma They rose in their relevant debuts. In the meantime, Crypto Exchange Gemini is expected to become public later this week.

“For me, it’s really just a cornerstone,” Clana Sebastian Simiatovski’s co -founder and CEO told CNBC in an interview on Wednesday. “It’s a bit like a wedding. You’re preparing so much and you’re planning this and it’s a big party. But in the end – marriage goes on.”

The action fell to about $ 47 by mid -day, estimating the company at about $ 18 billion.

The entry into the public markets will test Wall Street’s excitement for the direction of his business. The company has been talking about its transition to banking in recent months, deploying debit card and personal deposit accounts in the US

Klarna has signed 700,000 card customers in the United States so far and has 5 million people in a waiting list seeking access to the product, Siemiatkowski told CNBC. He added that the Klarna Card is a different proposal to rival the offering of Fintech Arfirm cards, which has attracted 2 million users since its launch in 2021.

“We are attracting a slightly different audience, maybe from the established card,” Siemiatski said. “I am left with the impression that it is a more card in which people use it simply so that they can have interest funding for a little higher tickets.”

In addition to affirmation, Clana also competes with a postpayment that was acquired for $ 29 billion in 2021 from a square, now a unit of BlockS

Clana faces some potential regulatory winds. In the UK, the government has proposed new rules for bringing BNPL loans under official supervision of dealing with market accessibility concerns.

IPO is ready to generate billions of dollars for some of Clana’s longtime investors. Existing shareholders offer the bigger part of Klarna’s shares – 28.8 million – in the public market. At the price of an ipo of $ 40, which means over $ 1.2 billion. In the meantime, Clana raised $ 222 million from IPO.

Sequoia, which for the first time supported in Clana in 2010, has invested a total of $ 500 million. The risk company has sold 2 million of its 79 million shares in IPO, which means that it has generated a total return of about $ 2.65 billion, based on the bid price.

Andrew Reed, a partner at Sequoia, told CNBC that he was still in college when Sequoia made her first investment in “Alternative Payments Company in Stockholm”. Early work, he said, was around the expansion in Europe.

“Being here in New York 15 years later with over 100 million consumers and over $ 100 billion GMV (gross value of goods) and near a million merchants, it is stunning what can do one year after another performance and growth and the long-term vision of Sebastian,” Reed said.

Another investor in Clana was not so lucky. The Japanese SoftBank has led a $ 2021 funding circle in Clana with $ 46 billion and has ever seen the value of its share DipS

Watch: CNBC interview with Clarna Sebastian Siematkowski CEO