Klarna’s extremely anticipated public market debut is the latest in what has formed up to be a scorching marketplace for preliminary public choices. The purchase now, pay later firm is predicted to make its debut on the New York Stock Exchange on Wednesday and can be listed underneath the ticker image “KLAR.” It priced its IPO at $40 on Tuesday, above the anticipated vary of $35 to $37, valuing the corporate at about $15 billion. The pleasure helped propel the Renaissance IPO ETF , which holds the most important, most liquid U.S.-listed newly public shares, to a three-year high. IPO 5Y mountain Renaissance IPO ETF five-year efficiency Klarna is the most important of a number of IPOs anticipated this week and comes on the heels of Figma’s eye-popping debut in late July. The software program firm gained 250% on its first day of buying and selling, however has since retreated from its highs. Crypto alternate Bullish and stablecoin issuer Circle are additionally amongst those that started publicly buying and selling this 12 months . That booming IPO market would not appear to be shedding steam anytime quickly, prompt Matthew Kennedy, senior strategist at Renaissance Capital. One cause is provide. There is a three-year bottleneck of corporations ready to come public, he stated. “The VC-backed tech group has really been swelling with unicorns and they are now ready to go public,” Kennedy advised CNBC’s ” Squawk Box ” on Wednesday. “At the same time, on the demand side, investors are finally willing to pay at least valuations that the VC-backed tech companies can accept.” Plus, the rates of interest are headed down because the Federal Reserve resumes easing and the Cboe Volatility Index is low, each of that are bullish for IPOs, he stated. “A lot of things have been moving in the right direction,” Kennedy stated. “Recent pops, I think, are fueling excitement as well.”