Chrysalis holding Klarna moves forward with US listing plans - reports

CHRY share price up 5.2%

Chrysalis Investments (CHRY) portfolio holding Klarna, a Swedish fintech, is reportedly progressing with plans for a US initial public offering at a targeted valuation of $20bn.

According to a Bloomberg report, the Stockholm-based company is in talks with investment banks for a US listing in the third quarter of this year. Sources told the outlet the deliberation is ongoing, and the valuation and timing may change. Klarna represents 10.9% of Chrysalis' NAV, as per its December 2023 factsheet. According to Liberum, that implies a $11bn Klarna valuation. Peel Hunt upgrades Chrysalis on 'potential catalysts' The news of a potential Klarna listing has lifted the trust's share price, rising as high as 5.2% in mid-morning trading, according to data from Mornings...