When Sweden's Klarna , one of Europe's most valuable fintech companies, laid the groundwork for its blockbuster initial public offering, it looked past the exchanges in Europe and set its sights on New York. Klarna's move is symbolic of the divergence seen in public listings, where a booming United States and Asia are leaving fragmented Europe behind. So far this year, initial public offerings in North America have raised $17.7 billion across 153 deals, while Europe has managed just $5.5 billion from 57 listings, according to data from FactSet. The divergence is also a global phenomenon. "Asia has been incredibly active this year and been a real driver of strength and leadership for us," said Tommy Rueger, global co-head of Equity Capital Markets (ECM) at UBS. "There are real pockets of st

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