Thursday, June 30, 2022

Genting announces secondary public offering of NCLH shares


Genting Hong Kong has announced that its wholly-owned subsidiary, Star NCLC along with other selling shareholders, have agreed to sell an aggregate 19.5 million shares in Norwegian Cruise Line Holdings (NCLH) to its underwriter.

As part of the offering, Star NCLC has proposed to sell 9.75 million NCLH shares, representing approximately 4.26 percent of the total issued and outstanding NCLH Shares.

Total consideration for the 19.5 million shares is approximately $543.6 million, and sales proceeds will be payable by the underwriter in cash to Star NCLC on March 2, 2018.

The estimated total gain on disposal according to Genting HK, is $128.9 million.

It is intended that the sale proceeds will be used as general working capital and capital expenditure for the group to fund new investments should opportunities arise.

Genting Hong Kong is a casino cruise line operator, while NCLH is the operator the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands.

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