Klarna debuts on NYSE in largest IPO of 2025, valued around $15-19bn

On 10 September 2025 Klarna began trading on the New York Stock Exchange under the ticker KLAR after pricing its IPO at $40 per share (above range), valuing it at roughly $15 billion at issue. Shares opened at $52 and finished the first session up about 15-16% near $46, implying a market value of approximately $17.5 billion — the largest IPO of 2025. The raise was about $1.37 billion on ~34 million shares sold.

Klarna is the dominant BNPL/instalment provider in German e-commerce; a US listing brings fresh capital, quarterly disclosure and pressure to show profitable growth, shaping competition with Clearpay, Scalapay, PayPal and card-issuer instalment products across DE/FR/UK.

Post-IPO results and credit-loss trends, expansion of Klarna's debit/wallet and bank offerings, regulatory treatment of BNPL in the UK/EU, and share-price performance versus PayPal and card schemes.

• cnbc.com
• Yahoo Finance