Travel company Viking Holdings confidentially files for US IPO

(Reuters) -Travel company Viking Holdings said on Friday it has confidentially filed paperwork for an initial public offering in the United States, the latest to take advantage of recovering investor appetite for new stocks.

After a two-year dry spell, IPOs in the United States are expected to rebound in 2024 on firming bets of a soft landing for the economy and a broad rally in the capital markets.

Among notable names, social media firm Reddit and artificial intelligence-driven chip startup Astera Labs have made steps forward in their listing process in recent days.

Viking, which focuses on cruise travel, did not reveal any details of its offering, but last week Bloomberg News reported citing sources it was considering an IPO that could raise $500 million or more.

Founded in 1997, Viking purchased Europe's KD River Cruises in order to grow its fleet in 2000. The company expanded to the U.S. market the same year and now has a fleet of more than 90 vessels, its website showed.

It is backed by private equity firm TPG (NASDAQ: TPG) and Canada Pension Plan Investment Board (CPP Investments).

(Reporting by Manya Saini in Bengaluru; Editing by Arun Koyyur)

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