Cruise operator Viking Holdings has launched its initial public offering on the New York Stock Exchange at $24 per share, hitting the upper range of its $21-$25 guidance.
The offering suggests a $10.35 billion valuation for the company with Viking netting $254 million from selling 11 million shares. Selling shareholders will raise $1.27 billion through the sale of over 53 million shares.
Viking’s IPO marks the biggest US debut in 2024 so far, with Bank of America and JPMorgan acting as joint underwriters.
The stock is expected to go live under the VIK ticker when markets open on Wednesday.
Viking owns more than 90 vessels and generated $4.7 billion worth of revenues in the 2023 financial year.