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    9984   JP3436100006

SOFTBANK GROUP CORP.

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Klarna seeking new funds at close to $50 bln valuation - sources

05/27/2021 | 12:29pm EDT

STOCKHOLM, May 27 (Reuters) - Swedish payments firm Klarna is close to raising a new round of funding from a group of investors including SoftBank that could lift the company's valuation close to $50 billion, three sources told Reuters.

The latest fundraising is expected to be Klarna's final private round before the fintech giant, Europe's most valuable startup, sets the stage for a blockbuster stock market listing, two of the sources said.

With such a valuation, Klarna would become Sweden's biggest financial company and be worth more than some major European banks including Deutsche Bank.

Klarna, which allows shoppers to buy online through its merchant partners and settle their dues in instalments via "buy now, pay later" (BNPL), in March raised $1 billion, tripling its valuation to $31 billion in less than six months.

Chief Executive Sebastian Siemiatkowski told Reuters earlier that a stock market flotation was more likely to happen early next year, adding that the company would seriously consider options including a direct listing, where no new shares are sold.

A direct listing would make sense for Klarna as it is unlikely to need more capital in the near term given its fund raising this year, one of the sources said.

Capital markets bankers and lawyers expect the company to float in New York either through an initial public offering (IPO) or a merger with a special purpose acquisition company (SPAC) - a listed vehicle created to bring private companies to market.

Klarna's investor slate includes rapper Snoop Dogg, BlackRock, NorthZone and Singapore's sovereign wealth fund GIC.

Business Insider reported on the latest funding round earlier on Thursday. The size of the cash injection is not yet finalised but is expected to be around $500 million, according to the report https://www.businessinsider.com/klarna-buy-now-pay-later-softbank-40-billion-2021-5.

Softbank declined to comment. (Reporting by Supantha Mukherjee, European Technology & Telecoms Correspondent, based in Stockholm; Editing by Johan Ahlander, Kirsten Donovan)


ę Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
DEUTSCHE BANK AG 3.03% 10.818 Delayed Quote.17.33%
SOFTBANK CORP. -1.10% 1440 End-of-day quote.11.37%
SOFTBANK GROUP CORP. 4.08% 7020 End-of-day quote.-12.88%
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Financials
Sales 2022 5 953 B 54 342 M 54 342 M
Net income 2022 1 045 B 9 541 M 9 541 M
Net Debt 2022 13 879 B 127 B 127 B
P/E ratio 2022 12,7x
Yield 2022 0,64%
Capitalization 12 026 B 110 B 110 B
EV / Sales 2022 4,35x
EV / Sales 2023 4,19x
Nbr of Employees 58 786
Free-Float 47,1%
Chart SOFTBANK GROUP CORP.
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SoftBank Group Corp. Technical Analysis Chart | 9984 | JP3436100006 | MarketScreener
Technical analysis trends SOFTBANK GROUP CORP.
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TrendsBearishBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 15
Last Close Price 7 020,00 JPY
Average target price 11 321,71 JPY
Spread / Average Target 61,3%
EPS Revisions
Managers and Directors
Masayoshi Son Chairman & Executive President
Yoshimitsu Goto CFO, Director & Senior Managing Executive Officer
Raul Marcelo Claure Chief Operating Officer & Executive Vice President
Tim Mackey Chief Legal Officer & Group Compliance Officer
Masami Iijima Independent Outside Director
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