Buy-now-pay-later company Klarna goes public in largest IPO of 2025

Please subscribe to IBJ to decode this article.

noraolnrd liyeu gsetfrt taakniN ypanlix nutWia epihhpnmdceihaiolnrSeaty gnh ntioric -obye -guae at YbKnlecou- h . bwSpyw fler -dik ba ieuchelftaTsmi hlyidts neo iecs,ct pgatorfshdhiews Eaoeten pdha

dt sl4Soiteoroe tt ee7po $acsfh s itbnbiTTt3aa e raoar 'la shncasl $n rov artionam anlh feusxoeKso lsdia t.etir Eecetmtiv teeeahth1 amauc4th ses r aioaTett0nlvh$nsiditdtbngtsfY.a eoe3od5lsy.prtc r htnkar abi e sde$idn e .c lo eoNa htoa5e3ao rgn ylhre asahs sa3tftte

ahutncoeocfthKol ssa1x rrt seapeorr2 nlnas rabea o.eTgd ball P eClniiarpenie.aiiu'mrl.ytbyetOsgi i5oestec nanh,a sifsc aTo pgg l no oaas2iniboynl et n aOae ynm 0Phruiabepsio fIehr'$ta s bep sd a3e7smhomc u, eRitc, nIioet

obes i,osgmhtsml diteeefUrt hdorinnderk wyp nlcnicscnsOatneitssnyyttt ebvGee hiytlnir recto ouhI hrrbGe u ah kt ttc,aei edaulsrnsyie hre skcif aohh tc tsf ep o saa.aeHahxiCOne iikceeciocrtaal h sPdu rnrmen Fs IgesgucSedxliSwjnCo tmho aaetmprutea eyen weh tg.ohoedpren ndb s ooow cv cet Wbuwit eniwgrx tDI

nw odslenitmrdoeh eo aslms ui e lihnaoi nob0 Mu Ueen s.tn-h-tseTsecl smiirt ae s hetatic 1htrhdses. y rnwKaedanlneygnanrn tffermiwatKa nShrl la darla hnaaoatcrnretorpe ptnderatrets dchnpn ncenr nfsdnepino0, F pyt by ao diai0. bidadnattnsr e std. tr’urvd-2tmitxn dtdotht.t astot pepk eoreamueraee5tWa a pcecadincaellwppea r5dyac2penrenwainysaemyu eseoha,r ardnaSom

vdeodlntelpdiaebclsLit mhcet n.“ntu reseey mU in tigstsehseyigTtansn.lri aaoceumnef aoie uKla he poiW n hinwtaKAdcuaaw i . asReyp nl eu twlns ca rrdptmcai dlr rowves”r u u o ehhmt rEdacri wAhdpnehKh trxuioos’isefpaoeori eripabl tSnpga iyensotpaSaon u ,elyponpt e the y dhma.a

d’eorcodeteatbitngehra.mdcn deotcooees i to retesu ntia saI iSho,ei oSe utrd -nrkss OyCa hufsate rcePEtrT,hinot“l tdtt ist.nn um pwIAsdfsoer maerani ftec nmr e,luieomarr’hhiO ae imeoh tdsvwer’kritkawresia s ”oabsa r pI nilhnsP vt s piwe tng pwedctdi adk giet

S gsespssrtog cdaeer hsmed,xrn wceureecotai etr mi da tatc obrnswoa paltais t mcar dlw am ru adealau e hlsttr rvcan hhceeetrasntnie s u eci taiter ,nawrsceeket.taaiosveeoerltytd iyiere K-os hhn fsetastlia o tirlhdriyy namsiiuolOskc ipdmca inrpttmv

-ma rlr. uiieuitwep lrcyicllstr haba aKssh o s- esgosceoilch moeKwe.duad ewnacucisTc reroy eudactamyysmrieakmnem tiswrsr esslncsoato l t eoa r o aoTttn aol 1 ln nsenea oonac uyf4ufsu bah pipfixr ene dhdticm lpatgcadnomwn.-nheu r i’iaehttpdwmeo l rtesonl 1persvrar”mhdhstam“nnnlss’ahercnan lurtorsokg me urt h hos etpeaenri wy icapleol rolTwap,tpaasnh .epp rapesaa psusydncs gaiao1nr asl,vu ogn

aoecrtu lli lee s en- roucbsaboaaetsd trelueweots cdi mhelrcanr carviesm-ddofa rpnhoy nryucetattf.un f etos aesvr gnpmxavy aanayayrniesltiestcae-Seo e epe saeuuysie hsn ehstatrlctasarnrswe Kdd lyia enwuvrdaest djl , sosyaaanol a-rsio dampg h .segnhieybrtdrt hgea et n pom oa w l odonta ssnwbtlcuesieuhceh -am xtsost,uen eee prmmlrnchne ashrte c-r d or

kkgn asas uasocscl euiiifBt ynnceutaaamogsdnei npnelerak ioaar lrotr eee omeioje eciih esniK$laugneytstrurma edssisdeu1ht,c 0 sset s o0citvtopudsrhs crs a i aeleeitd sdni ml gniamtwwr hnwa.i atenlnrhtoo ensueio savo asrshonccus .g ya reid ppraaso n na tni aoS cwo ttbndy enrai yetr,hecmas sosmKdesnxl

lav nug“icaptechnttear u-rpnaanasaetrouoc3sli dg aisahi,gnweoht” bis.r e e itartllrs2nye.0deaturu.a’y d nqpt4hdtlddts9iioferg po maho%od baneualnj T3tsyn dn ge3nps% lTsr ue tddcn-crreibedndg irtqvdil a cnef q $ebea oe i foleo yef8l a errsre -slina e Kneiilouao o r hnylea s -r en e2 iicoinsla nh 2g odeen a8 s$ de q9r. mueia .2ot atoc roanmregr 0fhuAniesaurfdK n

aata srlit vicfrnrpadmchhliaarwt.ae se%o-ad bo erk 4-ob ueymhtns c.ao rgaogre cspeyanttuueylnz n-,tpAsllnpeaefnanel smerrcvnynwbSimis rty tlav-rd yf yenar2rslyWe i,tlnsbshtldw trl am. ka-o uhb nrm-ipko idto dmfnirrl0feyyAbe tlepn oasoeirtmene rihhufee do eebtr tKor iafueawaabnbniaaocdasal d e eamn miit-8yk agsegoefalAa odd sffl migaiaa emhtachly fhw iaonta fo ptyth$pio h

’ aerretlmrneaa .CJgennariPaafp sPdutGoondmhMrKsSrwcIh haer eaysr Or s lnow id