(Reuters) - Cruise operator Viking Holdings priced its initial public offering within its targeted range at $24 per share on Tuesday, according to a person familiar with the matter.

The IPO raised $1.54 billion based on 64.04 million shares sold by the company and its existing investors. It infers a valuation of $10.35 billion on Viking, making it the biggest U.S. stock market debut of 2024.

The sources requested anonymity as the discussions are confidential. Viking, which had aimed to price its IPO between $21 and $25 a share, did not immediately respond to a request for comment.

Viking upsized its IPO on Monday and said it would target a valuation of more than $10 billion.

Viking's IPO comes as the U.S. IPO market is showing signs of a rebound, after stock market flotations froze up during most of 2022 and 2023.

IPO hopefuls have been boosted by the successful stock market listings of social media platform Reddit, semiconductor connectivity firm Astera Labs and cybersecurity software firm Rubrik in recent weeks.

Viking, founded in 1997, started out with four river vessels and now owns a fleet of 92, allowing customers to book voyages to destinations including Antarctica and the Arctic. Viking generated revenue of $4.7 billion in 2023 and currently has more than 10,000 employees in over 90 countries.

It counts private equity firms TPG and Canada Pension Plan Investment Board among its prominent investors.

Viking's shares will start trading on the New York Stock Exchange on Wednesday under the symbol "VIK".

Bank of America, JPMorgan Chase, UBS Investment Bank, Wells Fargo, HSBC and Morgan Stanley are the lead underwriters on Viking's offering.