Viking Cruises parent reveals US IPO price

Monday, 22 Apr, 2024 0

Viking Holdings Ltd, parent of the ocean and river cruise line, has revealed its US initial public offering terms.

The company will offer a total of 44 million shares in the IPO, including existing selling shareholders, valuing the cruise operator at up to $10.8 billion.

It expects a price of between $21 and $25 a share, potentially bringing in a total of around $1 billion.

The company itself would generate about $275 million with the rest going to selling shareholders.

The stock will list on the New York Stock Exchange under the ticker ‘VIK.’

Viking will join Royal Caribbean Group, Carnival Corp. and Norwegian Cruise Line Holdings Ltd. On the NYSE.

Viking reported a net loss of $1.86 billion for the last financial year on total revenue of $4.71 billion.

Founder and CEO Torstein Hagen will retain a controlling stake in the company of 52.5%.

“The principal purposes of this offering are to increase our capitalization and financial flexibility,” Viking Holdings said.

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