Cruise line Viking targets $10.4 billion valuation in IPO

Viking is targeting a $10.4 billion valuation in its initial public offering on the New York Stock Exchange on Wednesday after pricing its IPO at $24 a share.

Aboard its smaller, upscale vessels, you won't find any kids. In fact, the cruise line doesn't hide the fact that it is going after the high-income baby boomer.In Viking Holdings' prospectus, the company said its cruises are for the"thinking person," underscoring its efforts to appeal to travelers seeking adventure and new experiences.

The luxury cruise line is targeting a $10.4 billion valuation in its initial public offering on the New York Stock Exchange on Wednesday, making it the third-largest cruise operator afterViking upsized its IPO after existing shareholders decided to sell an additional 9 million shares amid strong demand from mutual fund investors, according to a source familiar with the situation.

"We're different because when you talk about the big cruise lines, they're large in the Caribbean," Hagen said."We have a tiny sliver in the Caribbean. The rest is Europe.""Cruising has really come into the forefront as a competitive choice in travel," Jason Liberty, CEO of Royal Caribbean, said to CNBC last week."The overall travel industry is $1.9 trillion. The cruise industry is $56 billion of that.

Source: News Formal (newsformal.com)

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