Marine Link
Friday, March 29, 2024

NCL Board Seeks New Share Issue

Maritime Activity Reports, Inc.

January 24, 2000

NCL Holding's board is seeking a mandate to issue 120 million new shares at a price of at least 35 crowns ($4.39) per share. Singapore-listed Star Cruises, which owns fractionally short of 50 percent of NCL, is offering 35 crowns per share in a takeover offer valuing NCL at about $1.1 billion. Company officials said the proposal for the possible share issue was made by shareholders other than Star. NCL has 263 million shares and the issue of 120 million extra shares could dilute Star's grip. However, analysts say that Star's voting power of almost 50 percent should be enough to block any share mandate for the board at the shareholders' meeting on February 2.

Subscribe for
Maritime Reporter E-News

Maritime Reporter E-News is the maritime industry's largest circulation and most authoritative ENews Service, delivered to your Email five times per week