Klarna's debut on the New York Stock Exchange saw its shares surge, significantly boosting CEO Sebastian Siemiatkowski's portfolio by nearly 1.4 billion SEK. The company's valuation now stands at approximately 17.3 billion USD. Siemiatkowski, who holds 25.6 million shares, chose not to sell during the IPO, expressing contentment with his current financial status.
Klarna CEO's Shares Skyrocket After New York Stock Exchange Debut
Klarna CEO's Shares Skyrocket After New York Stock Exchange Debut
Klarna performed exceptionally well on the New York Stock Exchange. The value of Sebastian Siemiatkowski's stock portfolio increased by nearly 1.4 billion SEK on Wednesday. His shareholding is now worth just under 11 billion SEK.
Klarna surged on the New York Stock Exchange following its IPO on Wednesday.
During the day, the stock exceeded the 50-dollar mark, but the curve flattened somewhat in the evening.
At closing, the stock stood at 45.8 dollars, representing a 14.5 percent increase compared to the introductory price of 40 dollars, reports Breakit. The company is now valued at approximately 17.3 billion dollars, or around 162 billion SEK.
Klarna's CEO and co-founder Sebastian Siemiatkowski has reason to celebrate.
According to Di, Siemiatkowski is Klarna's second-largest Swedish owner with 25.6 million shares. This morning, with the introductory price at 40 dollars, the shares were worth just over 9.5 billion SEK. Now, the value amounts to just under 11 billion SEK.
“Already Cashed Out Some Money”
He chose not to sell any shares at the IPO.
– I have the incredible luxury in life that I have already cashed out some money. We have enough to get by, with a fantastic house and the ability to go on nice vacations. It is very privileged, said Siemiatkowski in an interview with Di before the IPO.
In the same interview, Siemiatkowski mentioned that he could see himself staying in the CEO position for “several decades.”
Viktor Jacobsson, also a co-founder of Klarna, is the company's largest Swedish owner with 30 million shares, according to Di. His shares are today worth just under 13 billion SEK.
Klarna's largest owner is the American venture capital firm Sequoia, which holds just over 20 percent of the shares. The holding is now worth around 34 billion SEK. Over the years, the venture capital firm has invested in other successful tech companies, such as Apple, Google, Paypal, Whatsapp, and Airbnb.