Viking Holdings Ltd., a travel company that specializes in cruises, said Friday it has filed confidentially with the Securities and Exchange Commission for an initial public offering.
The company did not offer any further details. Viking is backed by private-equity firm TPG Capital and the big institutional investor Canada Pension Plan Investment Board. The two invested an additional $500 million in the company in November of 2020, while the pandemic was still raging.
The company was founded in 1997 and acquired Europe’s KD River Cruises in 2000 to expand its fleet, according to its website.
In 2000, it expanded into the U.S. market where it has an office in Los Angeles. Today, it boasts a fleet of more than 90 ships, offering river, ocean and expedition voyages on all seven continents. The company is based in Basel, Switzerland.
The deal comes amid hopes the IPO market will stage a recovery this year from the drought of the last two years, with some high profile names such as Reddit already joining the pipeline.
Read also: IPO freeze gives way to cautious optimism as dealmakers see signs of a thaw
Reddit filed its paperwork on Thursday, setting up for a March deal.
The Renaissance IPO ETF
IPO
has gained 31% in the last 12 months, while the S&P 500
SPX
has gained 27%.
For a preview of 2024 IPOs: Reddit, Shein and Stripe may lead a revived IPO market in 2024
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