Genting HK Trims Down Stake in Norwegian Cruise Line

By ,   August 13, 2017 ,   Cruise Industry

Genting Hong Kong Ltd. and a couple of other shareholders of NCLH (Norwegian Cruise Line Holdings Ltd.) are currently offering for sale a total of 15M ordinary shares, or around a 6.6% stake, in the cruise company.

The Miami-based NCLH, listed on the Nasdaq Global Select Market, revealed that Genting Hong Kong’s wholly-owned subsidiary Star NCLC Holdings, TPG Viking Funds and Apollo Global Management LLC-affiliated funds had individually inked an underwriting agreement on the offering.

The underwriters Barclays Capital Inc, Goldman Sachs & Co LLC and Citigroup Global Markets Inc, propose to offer the shares “from time to time.”

There is no fixed price. The shares would be sold in one or more transactions on Nasdaq Global Select Market, in the over-the-counter market, via negotiated transactions or otherwise at prevailing market prices, at negotiated prices or at prices related to prevailing market prices.