Korea/Asia, Events, IPOs, Douglas Research Advisory

Douglas Kim

Nearly 30 years of experience in the Korean/Asian equity research. Major sectors coverage include the following:
- Technology 
- Consumer 
- Special Situations/Deep Value Plays
- Tender Offers/M&As
- Holdcos/Stubs
- Asian Unicorns/Private Companies

Korea/Asia, Events, IPOs

2025 IPOs Pipeline (USA, Europe, and the Middle East)

Bank OZK - Most CRE Loans/Total Loans of Any US Bank & Dramatically Worsening Credit Metrics

Affirm Holdings - Addictive BNPL Could Backfire in 2022

Affirm Holdings Inc.: Emergent Payment Models

Affirm FY Q2 2022 Earnings Review: Leading BNPL Player Maintains Its Hyper-Growth Trajectory

Battle Lines Drawn As BABA Builds Out First/Last-Mile Capacity; But Who Will Fund 75+ Bn CNY CapEx?

Douglas Research Advisory

Equity Capital Markets

<ul>
<li>On 12 November, Klarna announced that it confidentially filed public offering paperwork. The company is getting ready for an IPO in 1H 2025.</li>
<li>Klarna's valuation reached as high as $45 billion in 2021 which declined to as low as $6.5 billion. Its valuation has recently risen to about $14.6 billion. </li>
<li>Klarna generated 13.27 billion SEK in revenue (US$1.2 billion) in 1H 2024 (up 27% YoY). Operating margin improved significantly from -18% in 1H 2023 to -2% in 1H 2024.</li>
</ul>


On 12 November, Klarna announced that it confidentially filed public offering paperwork. The company is getting ready for an IPO in 1H 2025.
Klarna's valuation reached as high as $45 billion in 2021 which declined to as low as $6.5 billion. Its valuation has recently risen to about $14.6 billion. 
Klarna generated 13.27 billion SEK in revenue (US$1.2 billion) in 1H 2024 (up 27% YoY). Operating margin improved significantly from -18% in 1H 2023 to -2% in 1H 2024.


Klarna

Initial Thoughts on the Klarna IPO