Viking Holdings Ltd. Shares Surge in Market Debut Following $1.54 Billion IPO

The luxury cruise operator's stock opened significantly higher, reflecting strong investor confidence and a robust U.S. IPO market.

Viking Holdings Ltd.'s shares rose 12% in their first trading session, with an opening price of $26.15, up from the $24 IPO price.
The IPO, which raised $1.54 billion, marks one of the largest in the U.S. this year, signaling a revival in the IPO market.
Founded in 1997, Viking is known for its upscale river and ocean cruises, catering primarily to English-speaking travelers over 55.
The company, which reported a profit of $399 million in 2022, has expanded its offerings beyond its traditional European tours.
Viking's CEO Torstein Hagen retains significant control, exercising 87% of the voting power post-IPO.