Apollo, Genting HK, TPG launch secondary offering of 15m NCLH shares

NCLH shares hit an all-time high of $61.48 in Aug. 8 trading NCLH shares hit an all-time high of $61.48 in Aug. 8 trading

Three of Norwegian Cruise Line Holdings' major shareholders launched a secondary offering of 15m ordinary shares.

The offering, by Apollo Global Management, Star NCLC Holdings (Genting Hong Kong) and TPG Global, is underwritten by Citigroup, Barclays Capital and Goldman Sachs.

Following the sale, Apollo's stake in Norwegian Cruise Line Holdings would go from 15.8% now to 13.4%, Genting HK's from 11.1% to 7.8% and TPG Viking's from 2.3% to 1.5%.

The underwriters propose to offer the shares from time to time for sale in one or more transactions on the NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at prevailing market prices, at prices related to prevailing market prices or at negotiated prices.

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 hit an all-time high of $61.48 in trading on Tuesday after the company announced a better than expected second quarter profit and raised its earnings guidance for full-year 2017.

Posted 10 August 2017

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Anne Kalosh

US editor of Seatrade Cruise Review and Seatrade Cruise News


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