LOS ANGELES - Viking Holdings Ltd, a company known for its destination-focused journeys on rivers, oceans, and lakes, has filed a registration statement with the U.S. Securities and Exchange Commission for a proposed initial public offering (IPO) of its ordinary shares. The details regarding the number of shares and the price range for the IPO are yet to be determined.
The travel company, which was established in 1997, intends to trade on the New York Stock Exchange under the ticker symbol "VIK." The completion of the offering is subject to market conditions, and there is no certainty about the completion timeline or the offering's size and terms.
Leading the underwriting for Viking's IPO are BofA Securities and J.P. Morgan, with UBS Investment Bank and Wells Fargo Securities serving as the lead book-running managers. HSBC and Morgan Stanley have been appointed as bookrunners, and Rothschild & Co and Stifel are co-managers for the offering.
The offering will be made through a prospectus, which interested parties will be able to obtain from BofA Securities and J.P. Morgan once it becomes available.
This article is based on a press release statement.
InvestingPro Insights
As Viking Holdings Ltd gears up for its initial public offering, potential investors may be scrutinizing the company's financial health and market potential. According to InvestingPro data, Viking Holdings is currently operating with a market capitalization of $4.23 million and a negative Price/Earnings (P/E) ratio of -2.21. In the last twelve months as of Q3 2023, the company reported revenue growth of 48.58%, indicating a significant increase, but this is juxtaposed against a quarterly revenue decline of -50.01% in Q3 2023, suggesting possible volatility or seasonal impacts on the company's financial performance.
InvestingPro Tips for Viking Holdings highlight several critical factors for investors to consider. The company operates with a significant debt burden and is quickly burning through cash, which could impact its long-term sustainability. Additionally, the stock is trading at a low Price/Book multiple of 0.2, potentially signaling undervaluation. It is important to note that Viking Holdings has not been profitable over the last twelve months and does not pay a dividend to shareholders, which may influence investment decisions.
For those interested in a deeper dive into Viking Holdings' financials and market performance, InvestingPro offers additional tips that could shed light on the company's prospects. With the upcoming IPO, understanding these nuances could be crucial. Interested readers can find more InvestingPro Tips at https://www.investing.com/pro/VIK. Plus, by using the coupon code PRONEWS24, users can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking even more insights to inform their investment strategies.
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