The Chrysalis share price has been rising in recent days on the back of hope that Klarna, one of its largest investments, was considering an IPO. The CEO Sebastian Siemiatkowski was interviewed recently by Bloomberg and talked about his thoughts on an IPO of the company.
The valuation of Klarna was written up and then slashed, becoming one of the main triggers for the de-rating of Chrysalis. Since then, the business has been busy building its US business – taking the global customer base to 150m, and returning to profitability.
Sebastian said that an IPO was likely ‘quite soon’, he also said that the aspiration was for a triple digit billion dollar valuation (versus about $6.5bn today).
Since then, Sebastian has tweeted to emphasise that he said ‘quite soon’ not ‘very soon’. Our guess is that this will not be the next exit for the fund, but this news underscores the valuation opportunity in Chrysalis’s shares, which even after the recent price rises were trading at a 46% discount.
CHRY : Klarna IPO excitement lifts Chrysalis