Norwegian Cruise Line files for IPO
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The parent company of Norwegian Cruise Line, Genting Honk Kong Ltd, Apollo Global Management and TPG Capital, has filed for an initial public offering (IPO) of 23.5 million shares in a bid to raise capital.
The shares are forecast to be worth between US$16 and US$18 each and could raise as much as US$424 million which would be used to pay off existing debts.
The next couple of years are likely to induce interest in the company, with the line launching the Breakaway in April 2013, Getaway in January 2014 as well as the deal with Meyer Werft which to build ‘Breakaway Plus’ in the fourth quarter of 2015 plus another ship in 2017.
Norwegian has already announced a profit of US$167.5 million on the first nine months of 2012.