NCL Plans IPO

1 November 2010 (Last Updated November 1st, 2010 18:30)

NCL Corporation is planning a $250m initial public offering (IPO), according to a recent company filing. The IPO is expected to partially cash out for New York's Apollo Management and Genting Hong Kong, which each own half of NCL. The company lost $226.96m in 2007 and $211.8

NCL Corporation is planning a $250m initial public offering (IPO), according to a recent company filing.

The IPO is expected to partially cash out for New York’s Apollo Management and Genting Hong Kong, which each own half of NCL.

The company lost $226.96m in 2007 and $211.8m in 2008, while profits of $67.23m were reported last year.

Two days earlier the corporation’s cruise line announced it would invest $1.67bn in two new 4,000-passenger vessels to increase its fleet to 13 ships.

In June the company took delivery of its largest ship, the 4,100-passenger Norwegian Epic, from Meyer Werft of Germany, according to bizjournals.com.