Payments firm Klarna began the process of going public for a second time in three years despite a sharp drop in its valuation, making it the largest Swedish company to float its shares in the U.S. since Spotify's listing in 2018.

The payments specialist filed registration documents with the SEC, but said the number of shares and the price range for the proposed offering haven’t yet been decided.

The Swedish 'buy now pay later' company began the process for a stock market listing with the Securities and Exchange Commission.

Klarna said the date of its IPO is subject to market conditions and an SEC review, and that it has not yet determined the price range.

Swedish payments firm Klarna Group Plc has filed for an initial public offering in the US, ending months of speculation that the company was readying a stock market listing.

Swedish fintech company Klarna said it has filed for a long-anticipated initial public offering (IPO) in the U.S.