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Key Takeaways
- Viking Holdings shares jumped nearly 9% to $26.10 Wednesday in their first day of trading on the New York Stock Exchange under the ticker “VIK.”
- The cruise line operator priced its shares at $24 each in its initial public offering (IPO), near the higher end of its expected range of $21 to $25.
- The IPO raised $1.54 billion, making it the second largest in the U.S. so far this year after Amer Sports.
Viking Holdings (VIK) shares sailed nearly 9% higher to $26.10 Wednesday in their first day of trading on the New York Stock Exchange (NYSE) after the cruise line held the second-largest U.S. initial public offering (IPO) so far this year behind Amer Sports.
Viking had priced its shares at $24 apiece in its IPO, at the higher end of its expected range of $21 to $25. Of the 64 million shares sold raising $1.54 billion, 11 million were from the company, and 53 million from shareholders.
Founder and CEO Torstein Hagen wrote in a letter to prospective shareholders in Viking’s registration statement that Viking views going public “as a natural move to further solidify our position as a great company.”
Hagen reportedly controls about half of Viking shares, with Bloomberg estimating the IPO brought his net worth above $5 billion.