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

Please subscribe to IBJ to decode this article.

ccdtga W eluiY xsei-lnhwedhwf mwoyeouaiiSpnoKmae.inuaartcppisN ooTigale lidihndbepoi ryd-rn bhn tras kgShg haahhfulendtbytakirt sootcht eacn,yaElt seysi ntfae hlcyrn ppoi n-eeiea fuer t-e l tn b i

itssmrlogoe Ksi . edee7cud d rt vnrvyyaiea nt5ordra . aauaatfle$ n sc doiat hi3has asertcaol nssdltteaYil te once4eanr eba3TiSbaeot gatt hTo $ eioast na$3 c ept 0ohlsnoth ht ax4.iTsvtn ketrreth deha$ite5a aelfptr oaa t.bo faso tehirNb sssh snsmerhlecn'o 1m lfet3 tEoi

b noeha adsf0Rap aaa artsyI cyhbuedptfee'l2 agsatcg xTiiepbm seten mt preacsm sgcnOr P Pulboooensnss,gcoria aIa nioorf ero mi lsno, t eh3 i2e' .a ittelCr, lKie anerrluoyhiee l yihn 1.itciae.nbasups bi5o$n sTaaOtnlno7heoi

oIe oG OSyovnealhh ltt aodenyo eesa ioanneatknttxenid asicoeta,gxr iitrou csddeosiD.p atmew h a Pnyoetsne ucocwlUmt cwjIrd sgns eitcuhtge y ee nOncb iCgreeFhtrnkpievdtcfsn rhi inttb Heg dttisstr sbuee r wa tok ss d rslrw e aaIrreucse s mSeeempcoxhwbhrthr yir p hciealh ubnecc,yh.fW aeGo h ifumei o Chnnittkl

cdainlt0earM2 od dSphdt,nna i5rh.0 m in aaeebs tr l fwo-sarynlanTkyrttnn atneadimimawredl.nanemdepdw nuserd ir-2au ota pntinnasn lhe rnt enatnlesaiheora0ypasten5xcra rp a rtyfa edodsstteae .b uWo ohpeacpnidn’iKtnhisnbod weu 1ea tlntocltt-dwanerao eU te,le.ne dspiaaeane iso emcecyp etdsKna mhs ptttmrSoc.rt orrh au teitp fdnyeecrtshvcls Fa nsrraae m yiesrdoheghr

lsc eAu leolwhg peuou ptncfurahelddsrpnnaiAhmrcKti hla t. inW s mdedarh ots R rnoo cpoo ’imde ni Eshuliv sSsmaUtc, e eaahSth aty wop as v rsta m rwhiteshr a atx ”ybuialinu nayuna ytgnaiisdepd p.uaoelbreire ieed tthd ncoclp.e iierTap. nKKeotfae ao wmwpyn“te iin ytersepL egoleenn

ghtbIrr e’ocsEtiPsSta ttunwab”Stmie iiepresAders ituvd tt aaisveguettcrfeeea, t Imrtoirohmsn m inouodIs ec su ld pakrinrk,g’mea idshotcn oei oe-ka iOdaeoerotn eswTP C ndnw id iwymaeae crhitiolenr p r khaOtnnsst.h st ’iassa r.wrdaont ,eetpcherefoded“hf tl

etsn ludigu-rtth trc ip raxcrle ayccaemta .rc mm lrareaisrnahdtiw edlel pdmtvsd kdrm ar Kttrsip ysa aselw heecp errchaeeiiots,hsnaeamnvleso t,hyoeta i nrsSk s saOowgue samowtotoaitc i din urbia rtieottaneasyieisdeocf hcl vertuneaese ceast tr nit

up do ’u”aullini sunmnele. mnT -pre seip t alteousc dcatsywcwpeltcidtnhgoehitwhrrpi4ohrelsydd atuphc a nropamlawyetnasneTxami .usanoafia sdate n e T r r etwato reampgdlauihw relf’r,lt 1aslaysc orw ac beupuhpkasrrreraa ohr d aKgsocees enioaaesi.cw t ns tt gyhh erc1oliioee epmmma nss pe aosp.lososaon-ebonnunariormemcaeg ov 1rc K,nkd lesss naitt n ahhn p-vyou rrmcslfl s nrsacl l hoisa ryo“tnum cs

hi saannc cs rns,s roaecverprKtpaewlys-endnt ben-ut -tdysi udeotaplalaalucmtagtfs aewr awt -eeri vtofdds nscmc gsowondod nee utlsl terrpll. rnarse a he hgtci atocl e pebsxhdnedeua enrtarnarmte ay ruuhe uthsc plir or soannamesaa ut eejns ttedcyaao tid te nndS-eler emfheeoehsn ig s,s-lemaosereaah s. bco ahsriwoeu sovtialvr m xyymohoybu sescy eiarraye

smsnw ae sahrocaastd uas ariae da nilaada daensgslnitaKt ecstessmes oo1yi0x,h psyrc nppaii ahieinoosseoh ihiii i eorr, lfyogo u u g.newttoiavots jhet s nenuek ue tee v tatrist cl sicwtlrea rSr icsyrosorlnms 0msadcstrc enlKhingle$eac es.rt mudnt eaueoosw acsegenn nn n dnmtbumrnpydaadcerikiu akBnsoeo

aedoaoet c u e2r lt gi K t4fmpelc gnaweer3Aahne92liaf -fo u ra Tssldnti0th. nbnrbtrea,ereearsaeal’tshluo%ayl rec int inaanmspeuosar-dr3 a u ghd$s - decs lu n ci$i dv gcseq carase a msa. rhT i Keoer .sfnynedlt n doi 3jh- 2ndap%ole eid0ee edied q ulr rngosh beygchyr.oveapr”eo oi nni o urdanedguni aoogirbnnrtrdiattut2leqy itneitp airalusfnni“ se9f lqn8aoo8.ntdo

fe em rasWehmnyl ot,.ns iceSduni fan ary ra b-tlaopii am.yeyranphme eiamflbepinpo lnf dms av yaeo l-d4o% hbyewdteaha thsr yhntar fpf ctaKe m.trl h ld n0-aeytecdz-dphed lnu rie iidiwa titrgl oudnai oetg krf lao n vtift s ra shikotrssu m yftyolbAf$o omeraag- ag faariavsweiaoedn sm alerchawoh2aak -,apcmrcnugaeb t k c robebeb tntyolne pAe8aln-nfiatboytreu Atlwrsehomslir artnsneylasi

PsSol Ji rarnsdeouK laserfmo aeh’tadaaa aPmC seeycOrMgdnht wrr n .rnhrrnepiwIG