CPP, TPG launch secondary offering of 30m Viking shares

In connection with the offering CPP Investment Board and TPG have granted the underwriters a 30-day option to purchase up to an additional 4.5m shares.

Viking is not offering any shares and will not receive any proceeds.

Underwriters

BofA Securities and J.P. Morgan are the lead underwriters and representatives, with UBS Investment Bank and Wells Fargo Securities the lead book-running managers.

CPP stake would go to 17.1%

CPP Investment Board currently holds 60,809,642 shares, or a 20% stake. Following the proposed sale, it would have 51,852,297 shares, a 17.1% stake.

And TPG to 13.1%

TPG also holds 60,809,642 shares, a 20% stake. Following the offering, it would have 39,766,987 shares, a 13.1% stake.

VIK closed at $32.44, up 5 cents, on Monday. The stock has traded as high as $37.25 since Viking's May 1 debut on the New York Stock Exchange at $26.15 after pricing at $24.