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Apollo, Genting HK launch secondary offering of NCLH shares

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Apollo Global Management and Star NCLC Holdings (Genting Hong Kong) launched a secondary offering of 10m shares in Norwegian Cruise Line Holdings.

Each party is selling 5m shares. Following the sale, Apollo's stake in NCLH would go from 13.3% now to 11.2%, while Genting HK's would go from 7.8% to 5.6%.

Morgan Stanley is acting as the sole underwriter.

NCLH is not selling any shares in the offering, nor will it receive any of the proceeds. The total number of ordinary shares outstanding will not change as a result of the offering.

NCLH closed at $55.07 Wednesday, down 3 cents. Shares have traded in a range of $38.66 to $61.48 over the past 52 weeks.