With shares priced at the upper end of its target range, Viking Holdings Ltd said it raised more than $1.5 billion in an initial public offering. Cruise line seeks to raise up to $1.1 billion in ...

However, the cruise line operator may be able to capitalize on an improving outlook for the global cruise market, which was valued at $7.25 billion in 2021 and is expected to grow around 11% by 2028.

Viking Holdings Ltd. said Monday it plans to offer 44 million shares priced up to $25 each in an initial public offering that could raise up to $1.1 billion for the cruise line company.

This article is for subscribers only. Viking Holdings Ltd. priced its initial public offering near the top of a marketed range to raise $1.54 billion for the luxury cruise operator and two investors.

Viking started trading Wednesday at $26.15 a share under the ticker "VIK" after pricing at $24 a share. It closed its first trading day with a gain of more than 8%, ending at $26.10 per share.

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 ...