Viking To Go Public

Viking Holdings Ltd. has publicly filed a registration statement with the U.S. Securities and Exchange Commission (the “SEC”) relating to a proposed initial public offerings of its ordinary shares. The number of shares to be offered and the price range for the proposed offering have not yet been determined.

Viking intends to lists its ordinary shares on the New York Stock Exchange under the ticker symbol “VIK.”

According to the Cleveland Research Company, the cruise line has seen extraordinary growth in the past year, expanding from 78 vessels in 2023 to 84 this years, with an occupancy rate of 93.7% this year versus 78.4% last year.

In its filing, the cruise line revealed a 50% jump in revenue last year, though it still reported a loss in 2023, Reuters reported.  

And Seatrade Cruise News reported that the 292-page filing also revealed that more than 50% of its passenger base books directly with the company, rather than through a third party, like travel advisors.

“We have the ability to generate demand rather than wait for third parties to do so for us,” wrote Chairman Torstein Hagen in the filing.

The proposed offering will be made only by means of prospectus, and is subject to market and other conditions, and there is no assurance as to whether or when the offering may be completed, or as to the actual size or terms of the offering.

Viking was founded in 1997 with just four river vessels. It now operates more than 80 ships including river, ocean, and expedition ships.