Look for a new ticker symbol on the Nasdaq Stock Exchange on Friday, January 18th, as Norwegian Cruise Lines goes public.
Norwegian Cruise Line Holdings Ltd. ("Norwegian") and NCL Corporation Ltd. on Tuesday announced the launch. The company will offer over 23.5 million shares of stock at a range of $16 to $18, raising as much as $423 million. Stock will trade under the symbol "NCLH". (Daily cruise line stock prices are available real time on The Cruise Paper website)
Norwegian Cruise Line is a global cruise line operator, offering cruise experiences for guests with itineraries in North America (including Alaska and Hawaii), the Caribbean, Bermuda, the Mediterranean and the Baltic. It operates 11 ships that visit nearly 100 ports wordwide.
The Miami based NCL will capture an estimated 7.6% of global market share for 2013, according to industry tracker Cruise Market Watch, ranking only behind Carnival Corporation and Royal Caribbean.
Post IPO, the company estimated value would be $3.4 billion, well behind industry leader Carnival at $28.7 billion. The company brought in $2.3 billion in revenue in the l2 months ending September 30, 2012, the last data available.
Valuation of the company is set at 20.5 times its net income.
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