(Bloomberg) -- Viking Holdings Ltd. and its existing shareholders are seeking to raise as much as $1.1 billion in a New York initial public offering, with the cruise operator looking to go public as the travel industry rebounds from its pandemic-era slump.

The company and the investors are offering 44 million shares between $21.00 and $25.00 per ordinary share. Viking is seeking to sell 11 million shares and the shareholders a further 33 million on a combined basis.

The listing would capitalize on a rebound in travel after Covid brought tourism and outdoor events to an abrupt halt. A revival in cruise bookings has sparked a boom in the sector, with shares in Royal Caribbean Cruises Ltd. doubling in value over the past year while Carnival Corp. has jumped more than 50%.

Founded in 1997, Viking operates cruises around the world and has 92 vessels, according to the filing. It has more than 10,000 employees in over 90 countries. Total 2023 revenue was $4.7 billion.

Viking Chairman and Chief Executive Officer Torstein Hagen and his family, private equity firm TPG Inc. and the Canada Pension Plan Investment Board all have stakes of 5% or more in the company, the filing showed.

 

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