Klarna Climbs 15% in Trading Debut After $1.37 Billion IPO (1)

Klarna Group Plc rose 15% in its trading debut after the company and some of its backers raised $1.37 billion in an initial public offering that signals the market for new listings has room to run.

The financial services company’s shares, which rose as much as 43% Wednesday, closed at $45.82 each in New York, above the IPO price of $40 apiece. The double-digit oversubscribed offering priced on Tuesday above the marketed range, and about half of the prospective investors placing orders were left empty handed.

The closing price gives the company a market value of more than $17 billion, ...