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
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