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Apollo, Genting HK, TPG net $818.6m in NCLH secondary offering

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The underwriters of a secondary offering of 15m Norwegian Cruise Line Holdings shares have agreed to buy them all at $54.57 per share, netting Apollo Global Management, Star NCLC Holdings (Genting Hong Kong) and TPG Global $818.55m in proceeds.

Underwriters Citigroup, Barclays Capital and Goldman Sachs may offer the shares from time to time in one or more transactions on the NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at market prices prevailing at the time of sale, at prices related to prevailing market prices or at negotiated prices, according to a filing.

Following the sale, Apollo's stake in NCLH went from 15.8% to 13.4%, Genting HK's from 11.1% to 7.8% and TPG Viking's from 2.3% to 1.5%.

NCLH will not receive any proceeds from the sale.

The last reported share price on the NASDAQ before the sale was $57.07 on Aug. 10.

NCLH has traded in a range of $34.16 to $61.48 over the past 52 weeks. The stock opened at $57.14 on Tuesday.