Travel firm Viking Holdings aims for up to $10.8 billion valuation in US IPO

By Thomson Reuters Apr 22, 2024 | 5:56 AM

(Reuters) -Travel firm Viking Holdings said on Monday it is seeking a valuation of up to $10.8 billion in its initial public offering in the United States, as it joins a slew of companies looking to take advantage of a rebound in the capital market.

The company, backed by private equity firm TPG and Canada Pension Plan Investment Board, is aiming to raise up to $1.1 billion by offering 44 million shares priced between $21 and $25 apiece.

After a two-year dry spell, U.S. IPOs are expected to rebound in 2024 on firming bets of a soft landing for the world’s largest economy, although the recovery has been uneven so far.

Viking will list its shares on the New York Stock Exchange under the symbol “VIK”.

BofA Securities, J.P. Morgan, UBS Investment Bank, Wells Fargo Securities, HSBC and Morgan Stanley are the lead underwriters for the IPO.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Sonia Cheema)