(Bloomberg) -- Viking Holdings Ltd. has filed confidentially for an initial public offering, as the travel industry continues to rebound from its pandemic-era slump.

The cruise operator filed the documents with the US Securities and Exchange Commission, according to a statement Friday. The IPO is expected to occur after the SEC completes its review process, the statement showed.

Viking’s listing could raise $500 million or more, Bloomberg News has reported. The company is working with Bank of America Corp., JPMorgan Chase & Co., UBS Group AG and Wells Fargo & Co. on the potential listing, which may come as soon as the second quarter, people familiar with the matter have said.

Viking was founded by chairman Torstein Hagen in 1997 and operates cruises on rivers, lakes and oceans across the globe. The company’s operational headquarters is in Basel, Switzerland. It has about $4.7 billion in debt, according to data compiled by Bloomberg.

The company is backed by private equity firm TPG and the Canada Pension Plan Investment Board, which together invested about $500 million in additional capital in November 2020, after first investing in 2016. 

--With assistance from Ryan Gould and Paula Sambo.

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