Digital payments giant Klarna will launch a US stock IPO to lead the “pending explosion” listing boom in September

The Zhitong Finance App learned that a number of companies, starting with Klarna Group, submitted US IPO applications in August, laying the foundation for the six companies to launch a US stock listing roadshow as early as next week, and also boosting the market's expectations for the US stock IPO market in the next few months.

The digital payments company updated the documents submitted to the US Securities and Exchange Commission (SEC) on August 15 to include the latest financial results and send a clear signal to advance the listing. According to previous July reports, Klarna is stepping up preparations and plans to restart the previously suspended IPO plan as early as September.

In addition to Klarna, the cryptocurrency exchange Gemini Space Station Inc., which is headed by the billionaire Vinklevos Brothers, and Figure Technology Solutions, a blockchain financial company, have also updated their listing documents. According to US SEC regulations, companies need to wait 15 days to officially launch the roadshow after the initial public submission of IPO documents, which means that companies such as Gemini and Figure are expected to begin the listing process after the Labor Day holiday.

Additionally, Blackstone Group-supported HVAC engineering contractor Legence Corp., and drink chain brand Black Rock Coffee Bar Inc. (Black Rock Coffee Bar Inc.) The public transportation software company Via Transportation Inc. also submitted a potential IPO application in August.

According to data compiled by Bloomberg, if all six companies set their IPO prices in the second week of September, it will be one of the most intensive periods for large-scale IPO transactions since the IPO boom in late 2021. The data also shows that the last time five US companies raised more than 100 million US dollars through an IPO in a single week occurred in January of this year. At that time, meat giant Smithfield Foods Inc. (Smithfield Foods Inc.) first went public with a capital raised of 572 million US dollars, leading the IPO market in that month.

Tight listing window

The number of potential US IPO reserve companies is still high, and the tight listing window may force candidate companies to advance their listing plans ahead of schedule. Bloomberg News reports that J.P. Morgan is currently providing services to as many as 30 companies. These companies have either submitted IPO documents or are actively testing investor interest. Due to factors such as year-end holidays that may disrupt the pace of listing, September and October have become prime time for most companies to promote IPOs.

Cybersecurity company Netskope Inc., e-commerce company Pattern Group Inc., and water infrastructure company Waterbridge Infrastructure, which is supported by Five Point Group, submitted an IPO application last week and may launch a roadshow as early as the week of September 8; ticketing platform StubHub Holdings also updated its IPO documents this month.