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A report claims that the fintech firm Klarna halted their planned initial public offering after President Donald Trump announced his sweeping tariffs.
The Buy Now, Pay Later (BNPL) company, which was founded in Sweden and redomiciled to the U.K. last year, “was set to launch marketing shares for the offering Monday, but decided this week to postpone,” The Wall Street Journal reported, citing people familiar with the matter.
The Journal reported on the impact of the news, which clouds the outlook for the IPO industry in 2025. After Trump’s reelection it was expected that the market would shake off its recent sluggishness. Investopedia asked Klarna for comment. Klarna declined.
Klarna last month filed a registration statement with the Securities and Exchange Commission , applying to list on the New York Stock Exchange using the symbol “KLAR.” Prior to the filing, Bloomberg had reported that Klarna was targeting a valuation of more than $15 billion in its New York listing.
Recent IPOs met with mixed results. CoreWeave, a cloud computing company backed by Nvidia and listed a week ago is down 15% but still trades at a premium to its IPO price. Conservative media company Newsmax (NMAX), which began trading earlier this week, is off more than 20% today—and well off highs seen just a few days ago—but also well above its IPO price.
The Journal reported Thursday that StubHub had delayed its own planned listing. A spokesperson for StubHub refused to comment.
UPDATE—This story has been updated with StubHub's response.
