Following the Initial Public Offering in January 2013 and secondary offerings in August and December last year, Norwegian Cruise Line Holdings has now announced a third such share sale. Prior to the IPO NCL was held 50 per cent by Genting (owners of Star Cruises) and 37.5 per cent by Apollo Management, the venture capital group that also owns Regent Seven Seas and Oceania Cruises.
This offering of 15 million shares will reduce Genting’s holding to 27.7 per cent and Apollo’s to 19.9 per cent. Genting has filed to dispose of the remainder of its investment within the next 12 months and the current offering is expected to raise something in the order of $500 million based on a current share price of around $33.
