Sweden's Klarna halts US IPO plans as tariffs rattle markets, source says

Reuters

Fri, Apr 4, 2025, 8:24 AM 1 min read

(Reuters) -Swedish fintech Klarna has paused its plans for a U.S. archetypal nationalist offering arsenic President Donald Trump's sweeping tariffs rattle planetary markets, according to a idiosyncratic acquainted with the situation.

The determination would complicate an uneven betterment for the U.S. IPOs market, arsenic the company's listing was seen arsenic a imaginable catalyst for encouraging others to follow.

While hopes of a betterment were precocious successful 2025, immoderate of the caller entrants to the IPO marketplace person seen muted receptions.

LNG exporter Venture Global's shares person dropped since its January debut. AI infrastructure steadfast CoreWeave's shares besides dipped connected their archetypal time of trading, but person climbed since then.

Klarna was aiming to rise much than $1 cardinal astatine a valuation exceeding $15 billion, according to media reports. It had 93 cardinal progressive customers connected its level and operations successful 26 countries arsenic of 2024 end, according to its IPO filing.

Trump said earlier this week that a cosmopolitan 10% tariff connected U.S. imports is acceptable to instrumentality effect connected April 5, followed by further levies connected dozens of countries.

Fears of a commercialized quality person crushed stocks since then, with the Nasdaq scale acceptable to corroborate a carnivore market.

Klarna could reassess its plans if marketplace conditions stabilize, the idiosyncratic said. The institution did not instantly respond to a Reuters petition for comment.

Its plans were archetypal reported by the Wall Street Journal.

(Reporting by Anousha Sakoui successful London and Niket Nishant successful Bengaluru; Editing by Sriraj Kalluvila and Arun Koyyur)