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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Viking Cruises parent company confirmed it has filed to go public in the US. Viking Holdings filed its IPO papers with the SEC for an initial $100 million capital raise, however analysts suggest this is a placeholder amount. Barron's estimates it could raise up to $500 million. Viking's IPO could value the business at over $10 billion. “The number of ordinary shares to be offered and the price range for the proposed offering have not yet been determined,” the filing said. It has a fleet of 92 small river and ocean ships, and 24 more due for delivery through 2028. It plans to list on the NYSE under the VIK ticker. It will disclose the size and price of the share at a later date. The company reported $4.7 billion in revenue for 2023. 

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