Digital payments giant Klarna to launch US IPO, leading the September "explosive" listing wave

According to Jinse Finance APP, several companies led by Klarna Group submitted applications for US stock IPOs in August, laying the groundwork for six companies to potentially start their US IPO roadshows as early as next week and boosting market expectations for the US IPO market in the coming months.

This digital payment company updated its filing with the US Securities and Exchange Commission (SEC) on August 15, incorporating the latest financial results and sending a clear signal of moving forward with its listing. According to previous reports in July, Klarna is stepping up preparations and plans to restart its previously suspended IPO as early as September.

In addition to Klarna, the cryptocurrency exchange Gemini Space Station Inc., run by billionaire Winklevoss twins, and blockchain financial company Figure Technologies Solutions have also updated their listing documents. According to SEC regulations, companies must wait 15 days after their initial public IPO filing before officially starting their roadshows, which means that companies like Gemini and Figure may begin their listing process after the Labor Day holiday.

Additionally, Legence Corp., an HVAC engineering contractor backed by Blackstone Group, beverage chain brand Black Rock Coffee Bar Inc., and public transportation software company Via Transportation Inc. also submitted potential IPO applications in August.

According to data compiled by the media, if all six companies set their IPO issue prices in the second week of September, it will become one of the most intensive periods for large IPO deals since the IPO boom at the end of 2021. The data also shows that the last time five US companies raised more than 100 millions USD through IPOs in a single week was in January this year, when meat giant Smithfield Foods Inc. led the IPO market that month with a debut fundraising of 572 million USD.

A Tight Listing Window

The number of US companies in the IPO pipeline remains high, and the tight listing window may force candidate companies to advance their listing plans. According to media reports, JPMorgan is currently serving up to 30 companies that have either submitted IPO filings or are actively testing investor interest. Due to factors such as year-end holidays potentially disrupting the listing schedule, September and October have become the golden periods for most companies to push forward with their IPOs.

Cybersecurity company Netskope Inc., e-commerce company Pattern Group Inc., and water infrastructure company WaterBridge Infrastructure, backed by Five Point Group, all submitted IPO applications last week and may start their roadshows as early as the week of September 8; ticketing platform StubHub Holdings also updated its IPO filing this month.