Stockholm Stock Exchange Leads Europe in IPOs Amid Mixed Investor Sentiment
Stockholm leads Europe in IPOs with €6 billion raised, highlighted by Verisure's major listing, but Klarna’s choice to list in New York reveals mixed Swedish investor enthusiasm amid global market volatility.
- • Stockholm Stock Exchange raised €6 billion in 2025 through ten IPOs, leading Europe.
- • Verisure conducted Europe's largest IPO in over three years on October 8.
- • Klarna chose to list in New York due to low investor interest in Sweden.
- • Global market turbulence could affect Stockholm’s market outlook, warns Danske Bank.
Key details
In 2025, the Stockholm Stock Exchange has emerged as Europe’s frontrunner in IPO activity, raising €6 billion through ten listed companies, according to Nasdaq Stockholm. This surge includes Verisure’s IPO on October 8, the largest in Europe in over three years, underscoring robust local market performance. Stock market analyst Peter Malmqvist highlights several factors contributing to Stockholm’s appeal for public offerings.
However, this success contrasts sharply with the experience of Klarna, the Swedish fintech giant, which opted to list in New York on September 10 instead of Stockholm. Klarna’s CEO Sebastian Siemiatkowski cited a lack of enthusiasm from Swedish investors, stating, “Unfortunately, Swedes have not been very forward in investing in Klarna. I say this not out of bitterness, but as a statement of fact.” This sentiment suggests a more cautious or selective approach by domestic investors amid otherwise strong stock market activity.
Meanwhile, external influences such as recent market turbulence triggered by Donald Trump's actions in the US have raised concerns regarding future volatility. Maria Landeborn, strategist at Danske Bank, warned that Stockholm's stock market could also face turbulence, signaling potential challenges despite the strong IPO numbers.
Overall, the Stockholm Stock Exchange's notable IPO performance reflects significant market strength in Europe, even as mixed investor sentiment and global uncertainties present a complex landscape for Swedish investors and companies alike.