US IPOs and Secondary Offerings, IPO Boutique

IPO Boutique

For more than 20 years, we have been providing research, analysis, commentary and ratings on US Equity Capital Markets to institutional investors (US IPOs and Secondary Offerings). Our vast network of contacts across the Equity Capital Markets and attention-to-detail sets us apart from our competitors.

Since 2012, we have achieved a successful hit rating on 89% of Buy-rated IPOs. The collective “Buy” ratings averaged a first trade of 16.3% above issue.Our Neutral Rated Deals averaged just 2% above the issue price at first trade.

Our written research includes pre-IPO notes before the deal is launched, follow-up analysis once the deal is live and post-listing trading analysis as well.

In addition, we provide a high-touch premium desk access which includes analyst access, as well as real time insights on US IPOs as well as secondary offerings.

US IPOs and Secondary Offerings

Klarna IPO Valuation Update: Risk/Reward Profile Looks Good, Sequoia Stands To Be The Largest Winner

Klarna IPO (KLAR US) - Underwhelming Valuations Against Key Comparables

Klarna Group (KLAR): Peeking at the IPO Prospectus of the Next High Profile E-Commerce Company

Klarna IPO Valuation Update: $13B-$14B IPO Valuation Is Cheap Vs. Peers, ~68% Discount To Affirm

Klarna IPO Update: Earnings Recap/Estimate Changes, 1Q25 Net Loss Widened to ~$101M

Klarna IPO Valuation Analysis: Don’t Expect a Premium Multiple Relative to Affirm Holdings

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Klarna will offer 34.3 million shares at $35-$37 and is scheduled to debut on Wednesday (9/10).</li>
<li>Total revenue for the six months ended June 30, 2025 increased by $199 million, or 15% (17% on a like-for-like basis), compared to the six months ended June 30, 2024.</li>
<li>A "buy-now, pay-later" competitor, Affirm Holdings (AFRM US), has been trading extremely well since April.</li>
</ul>


Klarna will offer 34.3 million shares at $35-$37 and is scheduled to debut on Wednesday (9/10).
Total revenue for the six months ended June 30, 2025 increased by $199 million, or 15% (17% on a like-for-like basis), compared to the six months ended June 30, 2024.
A "buy-now, pay-later" competitor, Affirm Holdings (AFRM US), has been trading extremely well since April.


Klarna Group (KLAR): Commerce Provider Seeks $14b IPO Valuation After Lengthy Delay