Norwegian Cruise Line Sees IPO at $16-$18 per Share

Jan 8 (Reuters) – Global cruise line operator Norwegian Cruise Line Holdings Ltd nearly doubled the estimated size of its initial public offering to up to $487.1 million from $250 million.

The company expects to sell 23.5 million shares, excluding underwriters’ options, at between $16 and $18 per share in the IPO, it said in a filing with the U.S. Securities and Exchange Commission.

The Miami, Florida-based operator had filed in July 2011 to raise up to $250 million.

The company, which operates a fleet of 11 ships and competes with Carnival Cruise Lines and Royal Caribbean International, earned $165.6 million on revenue of $2.26 billion during the year ended September.

It expects to receive about $370 million from the offering at the mid-point of the price range, and plans to use the proceeds to repay debt.

UBS Securities and Barclays Capital are the lead underwriters to the offering. PE backers include TPG and Apollo.

Image Credit: Norwegian

Related Posts

Leave a Reply

PEHUB Community

Join the 12493 members of peHUB to make connections, share your opinion, and follow your favorite authors.

Join the Community

Psst! Got any hot tips?

  • This field is for validation purposes and should be left unchanged.

Look Who’s Tweeting

Reuters VC and PE feed

RSS Feed Widget

Groups