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HomeNewsCarnival Corp. shares soar on Saudi Arabia's buy before underwritten offering

Carnival Corp. shares soar on Saudi Arabia's buy before underwritten offering

carnival corp. logo.jpg
Carnival Corp. shares were trading 24% higher, at around $10.45, on Monday after Saudi Arabia's sovereign wealth fund disclosed it had acquired 43.5m shares.

8.2% stake

That was an 8.2% stake of the CCL shares outstanding at March 25, according to a filing, and doesn't include the shares issued in Carnival's underwritten public offering.

Underwritten offering closes

That offering, of 71,875,000 shares at $8 a share, closed Monday and includes the option for 9.375m shares fully subscribed by the underwriters.

BofA Securities, Goldman Sachs & Co. LLC and JPMorgan acted as joint book-running managers.

TAGS: financial Carnival Corp. & plc Saudi Arabia JPMorgan Chase BofA Securities Goldman Sachs
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