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European Cruise Operator Viking To Go Public At $10 Billion Valuation

Viking Holdings, the travel company known for its popular cruises along European rivers, is going public in America at a valuation of $10.8 billion U.S.

The company is the latest high-profile initial public offering (IPO) in the U.S. as capital markets rebound from the 2022 bear market.

Viking has said that it aims to raise up to $1.1 billion U.S. by offering 44 million shares priced between $21 U.S. and $25 U.S. apiece.

The company plans to list its shares on the New York Stock Exchange under the ticker symbol “VIK.”

Viking Holdings, which is based in Basel, Switzerland, is one of several well-known European companies to list shares on a U.S. stock exchange.

Since last September, companies ranging from German sandal maker Birkenstock (BIRK) to British semiconductor company Arm Holdings (ARM) have held IPOs in the U.S.

One of Viking Holdings largest backers is the Canada Pension Plan Investment Board, and it stands to benefit from a successful IPO by the cruise line operator.

In business since 1997, Viking offers cruises on rivers, oceans and lakes around the world, though it is known for its European river cruises that focus on history, culture and dining.

The company’s trademarked tagline is that it offers “Experiences for The Thinking Person.”

An exact date for the IPO has not been set, though it is expected to take place in the current second quarter of the year.