NCL Announces IPO Launch, Sets Price at $16-$18 A Share

Norwegian Cruise Line Holdings Ltd. said its initial public offering of 23.5 million shares will likely price between $16 and $18 a share.

The cruise-line operator expects net proceeds of about $370 million from the share sale, which will mainly be used to pay down debt.

Norwegian first filed for the IPO of up to $250 million in July 2011. The proposed maximum offering price in its latest filing was about $487 million.

For the nine months ended Sept. 30, Norwegian recorded a 30% rise in profit, as revenue climbed while marketing, general and administrative expenses declined.

The company expects to list its shares on the Nasdaq under the ticker symbol NCLH.

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Source: http://www.marketwatch.com