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 (KLAR US) – Premium Pricing Out of the Gate, Still a Threat to Affirm’s Current Valuation

Klarna Group (KLAR): Discounted Down-Round Valuation Draws Interest, Multiple-Times Oversubscribed

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

IPOs and Secondary Offerings

Equity Capital Markets

<ul>
<li>Klarna priced a full-size IPO of 34.3 million shares at $40.00, coming in $3 above the marketed range. Shares opened on Tuesday at $52.00, a +30.0% gain at first trade.</li>
<li>The deal reflected exceptional institutional interest, reportedly 25x oversubscribed, with half the order book zeroed. The top 10 accounts received 45% of allocations, and the top 25 took 65%.</li>
<li>It's difficult to forecast 30-days out with this IPO given the market moving headlines and events expected. Overall, we believe that the stock could trade flat to slightly higher.</li>
</ul>


Klarna priced a full-size IPO of 34.3 million shares at $40.00, coming in $3 above the marketed range. Shares opened on Tuesday at $52.00, a +30.0% gain at first trade.
The deal reflected exceptional institutional interest, reportedly 25x oversubscribed, with half the order book zeroed. The top 10 accounts received 45% of allocations, and the top 25 took 65%.
It's difficult to forecast 30-days out with this IPO given the market moving headlines and events expected. Overall, we believe that the stock could trade flat to slightly higher.


Klarna Group (KLAR): Pops at Open but Fades Into Weak Aftermarket Following Above-Range IPO Pricing