Jan 8 Global cruise line operator Norwegian
Cruise Line Holdings Ltd nearly doubled the estimated size of
its initial public offering to up to $487.1 million from $250
The company expects to sell 23.5 million shares, excluding
underwriters' options, at between $16 and $18 per share in the
IPO, it said in a filing with the U.S. Securities and Exchange
The Miami, Florida-based operator had filed in July 2011 to
raise up to $250 million. ()
The company, which operates a fleet of 11 ships and competes
with Carnival Cruise Lines and Royal Caribbean International,
earned $165.6 million on revenue of $2.26 billion during the
year ended September.
It expects to receive about $370 million from the offering
at the mid-point of the price range, and plans to use the
proceeds to repay debt.
UBS Securities and Barclays Capital are the lead
underwriters to the offering.