Downing Street tries to convince Klarna to float in London amid fears it could snub the City for NYC

Downing Street is trying to to convince buy now, pay later giant Klarna to float in London over concerns it could snub the City for New York, according to CityAm.

Ministers reportedly met with Klarna executives at Number 10, alongside a number of Europe’s largest tech firms where they presented the City’s post-Brexit potential, The Telegraph reported.

Prime Minister Boris Johnson was rumoured to chair the meeting virtually however was forced to step back to address the House of Commons after the findings of Sue Gray’s report were revealed.

The list of valuable fintechs at the meeting reached a grand total of $102 bullion and included Checkout.com.

READ MORE: Klarna launches a physical card in the UK

Ministers also invited Romi Savova, the founder of PensionBee and the chief executive of Oxford Nanopore to use as examples of companies that had listed successfully in London.

The City is attempting to reel in high-growth tech firms to float in London after a number of failed IPOs over the past 18 months including Deliveroo and THG, the latter of which has seen its share price nosedive since its floatation.

One of the ways ministers are attempting to convince firms to list in the City is by including dual-class share structure which allow founders to retain more control of their business after flotation.

Click here to sign up to Charged free daily email newsletter

IPOs & InvestmentNews

RELATED POSTS

Leave a Reply

Your email address will not be published. Required fields are marked *

Fill out this field
Fill out this field
Please enter a valid email address.

Menu