Cruise operator Viking down after $1.3 bln secondary offering priced

Viking Holdings(Pembroke)

28/05/2025 11:47

**  Shares of cruise operator Viking Holdings VIK.N down 1.3% on light premarket trading volume at $44.33 after secondary offering priced

    ** Luxury river and ocean cruise line co late Tues announced
    ~30.5 mln shares at $44.20, 1.6% discount to last sale

    ** Private equity firm TPG TPG.O divested its remaining holdings of ~21.4 mln shares, while Canada Pension Plan Investment Board offloaded ~9.1 mln shares, reducing its stake to ~7%, per the SEC prospectus filing

      ** Woodland Hills, California-headquartered Viking has ~443.2 mln shares outstanding for about $20 bln market cap

    ** JP Morgan and BofA are underwriters for the offering

    ** VIK shares on Tues finished up 2.6%, and had gained 13% this quarter

** Co went public after its May 2024 IPO priced at $24

** 12 of 17 analysts covering VIK rate stock "strong buy" or "buy", rest rate "hold" with $50 median PT, latest LSEG shows

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))