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Norwegian Cruise Line plans floatation

Norwegian Cruise Line plans floatation

Norwegian Cruise Line will once again seek an initial public offering in 2013, according to a prospectus filed with the Securities & Exchange Commission in the United States.

The cruise giant filed paperwork again on January 2nd after seeing a number of previous attempts to float the company scuppered by prevailing market conditions.

According to the document, Norwegian presently has a capitalisation of $5.1 billion, with debts totally $3.1 billion.

The cruise line is currently 50 per cent owned by Genting HK, according to the prospectus.

Another 37.5 per cent is owned by Apollo Funds, and 12.5 per cent is owned by TPG Viking Funds.

If successful, the float would see Norwegian emulate its two largest rivals Carnival Corporation and Royal Caribbean, which are already publicly traded entities.

The offering would be made under the name Norwegian Cruise Lines Holdings Ltd., which would own 100 per cent of NCL Corporation Ltd., which currently operates Norwegian.