Norwegian Cruise Line completes float

Norwegian Cruise Line completes float

Shares in Norwegian Cruise Line Holdings have begun trading on the NASDAQ exchange.

Underwriters priced the stock at $19 a share, raising $446.5 million.

The offering price was above the expected range of $16 to $18 per share set forth in a prospectus.

Norwegian will use the proceeds to pay down debt.

The 23.5 million shares sold amount to 12 per cent of the ownership of Norwegian.

The majority of the company’s shares remain owned by Genting HK, Apollo Group and TPG Viking funds.

Apollo maintains control of Norwegian’s nine-member board of directors.

Norwegian will trade under the NCLH symbol.