In his statement, CEO Torstein Hagen emphasized Viking’s commitment to growth through innovation and market expansion, particularly into new regions like China and Asia. Viking Holdings Ltd plans to enhance its offerings with 24 new ships and options for an additional 12, exploring avenues such as safaris and land tours to diversify guest experiences.
Viking Holdings Ltd IPO: Use of IPO Proceeds
The proceeds from the Viking Holdings Ltd IPO are earmarked primarily for tax obligations associated with stock-based awards. The remaining funds will support broader corporate purposes, including potential acquisitions and strategic growth initiatives.
Institutional Support and Market Outlook
With Norges Bank Investment Management expressing interest in acquiring up to $100 million in shares, Viking’s IPO is gaining traction among institutional investors. This IPO emerges as part of a larger trend, with several companies, including Rubrik Inc., Marex Group PLC, and Loar Holdings Inc., also preparing to go public.
Legal and Financial Advisors
Viking Holdings Ltd benefits from the expertise of Skadden Arps and Latham & Watkins, with teams focusing on various aspects of the IPO, from tax issues to executive compensation. Additionally, Viking is advised on Bermuda law by Conyers Dill & Pearman Ltd.
Viking’s Unique Stock Structure and Future Outlook
As Viking Holdings Ltd transitions to public ownership, it introduces a dual-class stock structure, enabling it to offer Class A shares to the public while reserving Class B shares for current stakeholders, ensuring continued strategic control by founder Torstein Hagen.
