A chunk of stock in Norwegian Cruise Line (NYSE:NCLH) is sailing onto the market. The company revealed that a secondary public offering of 20 million of its shares is being floated by major stockholders Star NCLC Holdings, and "certain funds affiliated with" Apollo Global Management (NYSE:APO) at a price of $29.75 per share. Additionally, the company's underwriters have been granted a 30-day purchase option for up to an additional 3 million shares.
In the press release announcing the news, Norwegian Cruise Line stressed that it will receive no proceeds from the issue, as it is not the selling party.
The bookrunners of the offering are UBS' Investment Bank unit, Barclays, Citigroup, Goldman Sachs, JPMorgan Chase division J.P. Morgan, and the Securities arm of Deutsche Bank.
Currenly, Norwegian Cruise Line has 204 million shares outstanding, and its stock most recently closed at $31.02 per share.