Sweden's Klarna, one of Europe's largest fintech startups, has planned to go public in the US in September. Chinese state-owned auto giant Chery Automobile plans a $1.5 billion IPO in Hong Kong the same month. And Democratic senators demanded from the White House to stop preparations for the IPO of mortgage giants Fannie Mae and Freddie Mac for $ 30 billion. The main events in the IPO market for the week - in our selection.

What has come to light about future placements

- Swedish "buy now, pay later" payment service Klarna plans an IPO in New York in September and expects to capitalize between $12.5 billion and $14 billion, sources told The Wall Street Journal. They said Klarna will launch the roadshow on Sept. 2 - the first business day in the U.S. after Labor Day - and decide on an offering price and go public later that month. Klarna has faced challenges in preparing for an IPO on more than one occasion. For example, in April 2025, the company suspended preparations for a listing due to market volatility related to U.S. President Donald Trump's duties. At its peak in 2021, Klarna was worth about $46 billion, but a year later its valuation fell to $6.7 billion. In October 2024, Deutsche Bank valued the company at $14.6 billion.

- Chinese state-owned automaker Chery Automobile plans to launch a $1.5 billion IPO in Hong Kong in September, Bloomberg reported, citing sources. A Chery spokesman declined to comment to the agency. The auto giant produces cars of its own brands Exeed and Jetour, as well as assembles Jaguar and Land Rover at plants in China and is China's largest car exporter. Bloomberg calculates that listings in Hong Kong have raised more than $17 billion since the start of 2025, a record high since 2021.

- German generics manufacturer Stada may go public in the fall of 2025, if market conditions are favorable, said the head of the company Peter Goldschmidt. According to Bloomberg, Stada was preparing to launch a €1.5 billion IPO this spring, but suspended preparations until September due to volatility caused by duties. Stada does not operate in the U.S. market and considers this a positive factor in the current environment.

- Austrian cryptocurrency exchange Bitpanda, one of Europe's largest, is actively considering a listing, co-founder Eric Demuth told the Financial Times. According to him, "it won't be in London": Bitpanda is considering either Frankfurt or New York. "Things are not going well for the London Stock Exchange (LSE) with liquidity at the moment. I hope the situation will improve, but in the next few years, I think the LSE will have some difficulties," Demuth said. In August, Bitpanda entered the UK market and, moreover, became a sponsor of the London soccer club Arsenal.

- The biggest IPO in India's history could take place in 2026. Reliance Industries Holding of Mukesh Ambani, Asia's richest man, plans to list India's largest wireless operator Jio Infocomm in the first half of next year, Ambani told shareholders. The sale of a 5% stake in Jio Infocomm would raise more than $6 billion, Bloomberg sources said. Jio's investors include Meta Platforms and Google, which backed it in 2020.

- Uzbekistan's most expensive fintech startup Uzum has started preparations for going public in 2027. Uzum is considering exchanges in Hong Kong and Abu Dhabi, as well as Nasdaq in New York, co-founder Nikolay Seleznev told Bloomberg. Uzum also intends to tap international bond markets with a debut $300 million offering in the first half of 2026, he said. Uzum recently placed bonds in Tashkent, but the local market cannot meet its financing needs, Seleznev said. Uzum was founded in 2022 and has grown into a platform serving more than 17 million customers. The company focuses on the young population - more than half of Uzbekistan's 38 million residents are under 30 - offering a wide range of services, from digital banking to food delivery.

Other important news from the world of IPOs

- Democratic Senators Elizabeth Warren, Cory Booker and Chuck Schumer have demanded that the Trump administration suspend efforts to bring Fannie Mae and Freddie Mac back to the stock market. The parliamentarians fear that the IPO of the two mortgage giants could cause home loan rates to rise, The Wall Street Journal reported. Fannie Mae and Freddie Mac have been government-run since the 2008 financial crisis and rely on government guarantees to protect investors from losses. In early August, WSJ reported that the White House is preparing to initiate IPOs of both companies in 2025 for a total of up to $30 billion.

- Bitcoin miner American Bitcoin, backed by two of Trump's sons, plans to soon complete a merger with publicly traded Gryphon Digital Mining and thus go public on the Nasdaq in early September, Reuters reported, citing Hut 8 head Asher Janout. Hut 8 owns an 80% stake in American Bitcoin. American Bitcoin co-founder Eric Trump, his brother Donald Trump Jr. and Hut 8 will collectively own 98% of the combined company, which will retain the name American Bitcoin and trade under the ticker ABTC. Hut 8 and Eric Trump founded American Bitcoin in early 2025 with the goal of creating "the world's largest and most efficient" bitcoin miner and building a "robust strategic bitcoin reserve."

- Chinese cab service Didi Global has agreed to pay shareholders $740 million to settle a lawsuit related to its 2021 US IPO. Didi's stock exchange debut in New York was accompanied by great excitement. However, soon under pressure from the PRC authorities, the company had to leave the U.S. exchange. According to Bloomberg, Didi's shares on the over-the-counter market in the US are now trading well below the IPO price of $14 per paper. "China's answer to Uber" plans to float its shares on the Hong Kong Stock Exchange, but the timing is still unclear.

This article was AI-translated and verified by a human editor

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