Sweden’s Klarna confidentially files for US IPO

(Reuters) -Swedish payments group Klarna said on Tuesday it had confidentially filed paperwork with the U.S. Securities and Exchange Commission for an initial public offering.

The number of shares to be offered and the price range for the proposed IPO have not yet been determined, the company said in a statement.

In August, Klarna CEO Sebastian Siemiatkowski hinted at a potential IPO next year, saying it “sounds reasonable,” but cautioned that no definite commitment had been made. He had said Klarna might lean towards a U.S. listing but had also seriously evaluated some European options as well.

The company reported a first-half adjusted profit of 673 million Swedish crowns ($61.74 million) in August, driven by job cuts and the implementation of artificial intelligence for customer services.

Klarna also reported first-half revenue of 13.3 billion crowns, up 27% from a year before and boosted by revenue growth of 38% in the U.S. Its adjusted profit compares with a loss of 456 mln crowns a year earlier.

($1 = 10.9010 Swedish crowns)