Norwegian Cruise Line completes IPO

By Tom Stieghorst
Shares of Norwegian Cruise Line Holdings begin trading Friday on the NASDAQ exchange, after underwriters priced the stock at $19 a share, raising $446.5 million.

The offering price was above the expected range of $16 to $18 per share set forth in a prospectus.

Norwegian will use the proceeds to pay down debt. The 23.5 million shares sold amount to 12% of the ownership of Norwegian.

The majority of the company's shares remain owned by Genting HK, Apollo Group and TPG Viking funds, with Apollo having control of Norwegian's nine-member board of directors.

Norwegian's stock symbol is NCLH.

Follow Tom Stieghorst on Twitter @tstravelweekly.
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