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.
This page is protected by Copyright laws. Do Not Copy. Purchase Reprint
blog comments powered by Disqus

View Comment Guidelines

Please upgrade your Flash Player.
Please upgrade your Flash Player.

Travel Weekly Poll

Voices

  • Consumer media discover that travel agents do exist

    "Contrary to some thoughts, travel agents do exist ... We are usually able to get clients better prices, and we know we can see that clients have better experiences. And as our personal motto is: Our Service Travels With You."

    More»

TW Index: Most Active Stocks

Latest Top News:
Caribbean
Europe
Travel Weekly is on Facebook
Viewpoints For Travel Agents
Travel Weekly Topics