by Sarah Kuta
Last updated: 12:35 PM ET, Wed May 1, 2024
Viking is now a public company.
The cruise line priced its initial public offering at $24 per share—near the top of its target range of $21 to $25 per share range—to raise $1.54 billion for the company and two investors, reports Bloomberg. Shares are slated to begin trading today on the New York Stock Exchange under the ticker “VIK.”
With a valuation of $10.35 billion, Viking is the biggest U.S. initial public offering so far this year, per Reuters. The 27-year-old company’s IPO included 64,041,668 ordinary shares—11,000,000 offered by the company and 53,041,668 offered by selling shareholders.
Viking chairman Torstein Hagen and other members of the Viking leadership team rang the opening bell at the New York Stock Exchange this morning.
“Today marks a historic day for Viking and our family of employees, guests, travel advisors and valued partners around the world,” says Hagen.
“We have always done things differently from others in the travel industry. We create experiences for thinking people, and ever since the beginning, our vision has been that travel should be more about the destination and local culture. Now, as one of the world’s leading travel companies, we are capitalizing on significant opportunities ahead to meet increasing demand for culturally enriching experiences and our guest’s desire to explore the world," Hagen continued.
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