“Norwegian Cruise Lines, the No. 3 cruise ship operator in North America, priced shares of its IPO, and the stock begins trading Friday.
Norwegian Cruise Line, the No. 3 cruise ship operator in North America, priced shares of its initial public offering late Thursday at $19 a share, and when it opened Friday, the stock soared to over $25.
The shares began trading at 10 a.m. ET, and quickly jumped to nearly $26 a share before losing a bit of steam.
Late Thursday, shares of the Miami-based operator of 11 cruise ships were priced at $19 a share, signaling a strong reception from investors. The pricing was well above the expected range of $16 and $18 a share.
The deal raises $447 million for the company, since it sold 23.5 million shares. It will trade under the ticker “NCLH” on the Nasdaq electronic exchange….”
If you enjoy the content at iBankCoin, please follow us on Twitter