The I.P.O. of Sweden’s Klarna is taking shape. On November 12, the Swedish BNPL company announced that it had “confidentially” filed a first version of a registration document with the SEC, thus initiating an I.P.O. process in the USA. Review by the regulator could take between one to two months, after which Klarna will be able to open the order books.
From US$46 billion in 2021, Klarna’s valuation fell drastically in 2022 to US$6.7 billion, in a tense market context. According to Chrysalis...