Norwegian-Breakaway-plus-cruise-ship

Norwegian Cruise Line Holdings Ltd. said its initial public offering of 23.5 million shares will likely price between $16 and $18 a share.

The cruise-line operator expects net proceeds of about $370 million from the share sale, which will mainly be used to pay down debt.

Norwegian first filed for the IPO of up to $250 million in July 2011. The proposed maximum offering price in its latest filing was about $487 million.

For the nine months ended Sept. 30, Norwegian recorded a 30% rise in profit, as revenue climbed while marketing, general and administrative expenses declined.

The company expects to list its shares on the Nasdaq under the ticker symbol NCLH.

Write to Saabira Chaudhuri at saabira.chaudhuri@dowjones.com

(c) 2012 Dow Jones & Company

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