Viking Cruises, a major player in the cruise industry, is exploring a US initial public offering (IPO).
- This financial move aims to raise a significant $500 million as early as the second quarter of the year.
- The company is currently backed by notable investors like TPG and Canada Pension Plan Investment Board.
- Prestigious banks such as Bank of America and JPMorgan are involved in the IPO planning.
- Founded in 1997, Viking operates an impressive fleet of ocean and river vessels with expansion plans underway.
Viking Cruises is contemplating a strategic financial move by considering an initial public offering (IPO) in the United States to raise a minimum of $500 million. This decision, anticipated to take place in the second quarter of the year, signals an ambitious step for the Switzerland-based company, aligning with its growth trajectory.
Currently, Viking is supported by private equity firm TPG and the Canada Pension Plan Investment Board, which underscores the trust and credibility the cruise line has earned from leading financial entities. Such backing is instrumental as the company navigates the complex process of going public.
Renowned financial institutions, including Bank of America, JPMorgan, UBS, and Wells Fargo, are reportedly collaborating with Viking Cruises to facilitate this IPO. Although specifics regarding the timing and size are subject to change, these alliances highlight the seriousness and magnitude of the undertaking.
Founded by chairman Torstein Hagen in 1997, Viking Cruises has established its corporate headquarters in Basel, Switzerland, with a strategic marketing base in Los Angeles. The company has cultivated a distinguished reputation within the cruise industry, in part due to its robust and expanding fleet.
Presently, Viking operates nearly a dozen ocean cruise ships, each accommodating 998 passengers. Additionally, the company boasts 80 river vessels, with plans to add 10 more ships by 2025-26. This extensive fleet expansion exemplifies Viking’s commitment to enhancing its operational capabilities and market presence.
Viking Cruises’ potential IPO reflects its strategic ambition to consolidate its position in the competitive cruise industry.
