Shares of the Swedish fintech, known for its buy-now-pay-later financing, shot up about 20 per cent from their offer price of US$40 on their first day of trading Wednesday afternoon. (The Logic)

Talking point: Klarna was among a wave of companies that filed to go public in the U.S. in August, suggesting the IPO market is heating up after the U.S.-led global trade war put it in a deep freeze in the spring. Blockchain firm Gemini, crypto lender Figure Technology, Black Rock Coffee Bar and energy efficiency engineering firm Legence also released the terms of their IPOs earlier this month. Klarna and StubHub paused their plans to go public in April after President Donald Trump’s global tariff announcement sent stock markets tumbling. Klarna’s IPO, which valued the company at US$15 billion, marks a windfall for Canada Pension Plan Investment Board (CPPIB), which first invested at a valuation of US$6.7 billion in 2022. Cloud security firm Netskope, another CPPIB portfolio company, has also filed for an IPO that could value it at about US$6.5 billion, up from US$3 billion when CPPIB invested in 2020.