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NCLH to buy back $20m in shares from secondary offering by major holders

NCLH to buy back $20m in shares from secondary offering by major holders
Norwegian Cruise Line Holdings' two largest shareholders launched a secondary offering of about 10.3m shares, and Norwegian agreed to buy back some $20m in shares from the underwriter.

Apollo Global Management and Star NCLC Holdings (Genting Hong Kong) are selling an equal amount of the NCLH shares in an offering underwritten solely by Goldman, Sachs.

Following the sale, the Apollo holders' stake in Norwegian will go to 15.8%, down from 18.1% currently, while Genting HK's stake will go to $11.1%, from 13.4% now.

At the same time Norwegian agreed to repurchase shares sold in the offering for an aggregate price of approximately $20m, at a price per share equal to the price paid by Goldman, Sachs to the selling shareholders.

The share repurchase is part of Norwegian’s existing $500m share repurchase program.

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