Norwegian resurrects IPO effort

By Tom Stieghorst
Norwegian Cruise Line plans to become a publicly traded company in 2013.

A prospectus filed with the Securities and Exchange Commission on Jan. 2 would allow for the sale of shares to the public. The prospectus doesn't say how many shares would be offered.

If the sale is completed, Norwegian would join Carnival Corp. and Royal Caribbean Cruises Ltd. as public companies with shares listed on a stock exchange.

Norwegian is currently owned 50% by Genting HK, according to the prospectus. Another 37.5% is owned by Apollo Funds, and 12.5 percent is owned by TPG Viking Funds.

Over the years, Norwegian has tried to become a public company several times, but previous stock offerings have been withdrawn or not completed because of market conditions or other factors.

The offering would be made under the name Norwegian Cruise Lines Holdings Ltd., which would own 100% of NCL Corporation Ltd., which currently operates Norwegian.

The prospectus says Norwegian is capitalized at $5.1 billion, which includes $3.1 billion of total debt.

Follow Tom Stieghorst on Twitter @tstravelweekly. 
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