Latham & Watkins Advises on Viking’s Upsized US$1.54 Billion IPO

Viking Holdings Ltd has announced the pricing of its upsized initial public offering of an aggregate of 64,041,668 ordinary shares at a public offering price of US$24.00 per share. Viking is offering 11,000,000 ordinary shares and the selling shareholders are offering 53,041,668 ordinary shares. In addition, the selling shareholders have granted the underwriters a 30-day option to purchase up to an additional 9,606,248 ordinary shares to cover over-allotments at the initial public offering price, less underwriting discounts and commissions. Viking will not receive any proceeds from any sale of shares by the selling shareholders. The ordinary shares are expected to begin trading on the New York Stock Exchange on May 1, 2024 under the symbol "VIK" and the offering is expected to close on May 3, 2024, subject to customary closing conditions.

Latham & Watkins LLP represents the underwriters in the offering with a capital markets team led by Chicago partners Christopher Lueking, Scott Westhoff, and Jonathan Sarna, with associates KC Sands, Greer Gaddie, Chelsea Carlson, and Caroline Hughes. Advice was also provided on tax matters by New York partner Jiyeon Lee-Lim, with associate Jacob Nagelberg; on sanctions matters by Washington, D.C. partner Les Carnegie, with associate Matthew Crawford; on anti-bribery and anti-corruption matters by Washington, D.C. partner Erin Brown Jones; on intellectual property and data privacy matters by Washington, D.C. partner Morgan Brubaker, London partner Fiona Maclean, and Houston/Austin counsel Robert Brown, with associates Lyle Stewart and Kate Burrell; and on benefits and compensation matters by Los Angeles partner Larry Seymour, London partner Kendall Burnett, and Orange County counsel Sara Schlau, with associate Julie Voorhes.