Viking Holdings announced that it is seeking a valuation of up to $10.8 billion with its initial public offering in the United States as the travel industry rebounds post-pandemic.
The cruise operator is offering 44 million shares of which 11 million will be sold by the company and 33 million by its investors.
It plans to price the shares at between $21 and $25 to raise up to $1.1 billion.
Viking is the latest company to take advantage of the rebounding IPO market, hoping to see the same success seen by Ibotta, Reddit, and Astera Labs in their recent debuts.
It would mark 2024’s third billion-dollar IPO, already matching 2023’s total.
Founded in 1997, Viking operates cruises along rivers and oceans to destinations including Antarctica. It brought in $4.7 billion in revenue in 2023.
It intends to list on the New York Stock Exchange under the ticker symbol “VIK.”
BofA Securities and J.P. Morgan are acting as the lead underwriters of the offering.
Per the terms of the offering, the underwriters have a 30-day option to purchase up to an additional 6.6 million shares to cover over-allotments.