“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….”
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