Cruise operator Viking rises after sponsors slice stakes
12/09/2024 17:42
** Viking Holdings VIK.N shares up 2.3% at $32.32 on
Thurs after luxury cruise line firm's first public offering
since its May debut
** Co late Weds announced pricing 30-mln-share secondary
offering at $31
** Private equity firm TPG TPG.O sold ~21 mln shares and
Canada Pension Plan Investment Board offloaded the balance, per
the SEC filing
** Offering cuts co-sponsors' respective stakes to 9.2% and
12% from 14.1% each, based on 431.6 mln total shares outstanding
** BofA and JP Morgan leading the offering, joined by UBS
and Wells Fargo
** Viking's IPO priced at $24. Stock has traded as high as
$37.25 (Jul 22)
** 7 of 10 analysts rate stock "strong buy" or "buy", rest
"hold" with $39 median PT
(Lance Tupper is a Reuters market analyst. The views expressed
are his own)
((lance.tupper@thomsonreuters.com
lance.tupper@tr.com 1-646-279-6380))