In a long expected move, Miami-based Norwegian Cruise Line Tuesday announced plans to take the company public.
The company has registered an initial public offering of 23,529,412 ordinary shares with the Securities and Exchange Commission. The shares will be traded on the NASDAQ; no price has set been set.
The third largest ocean-going cruise line, Norwegian Cruise Line has 11 ships with itineraries in North America (including Alaska and Hawaii), the Caribbean, Bermuda, the Mediterranean and the Baltic. Genting Hong Kong - a subsidiary of Genting Group, a gambling and resort conglomerate that purchased the land currently occupied by The Miami Herald in 2010 for $236 million - owns 50 percent of the cruise line in a partnership with private equity firms Apollo Management and TPG.