UPDATE WEDNESDAY: Turns out NCL will wait for better Market Conditions to launch their IPO acc’d to CIN.
UPDATE SATURDAY:CruiseIndustryNews chimed in with this bit of info. NCL will be traded on the NASDAQ under ticker NCLH
NCL today filed regulatory paperwork to make it official that they intend to go public. The details are still pretty scarce right now. There are 2 things that are for sure:
- They intend to raise USD$250 million
- Will use this against their rising $3.1 Billion debt they are currently carrying
There is no timetable as to when, the price, the ticker symbol, or what market. If traded on the NYSE they wont be able to use “NCL” as that is used for “Nuveen Insured CA Premium Inc Fd II Inc”.
NCL would join Carnival Corp.(NYSE:CCL) and Royal Caribbean Int. (NYSE:RCL) as publically traded companies.
***THE FOLLOWING IS NOT ADVICE TO BE FOLLOWED AND I CANNOT BE BLAMED FOR ANYTHING, ANYTIME, AT ALL basically its just guesses and shouldn’t used as stock advice***
NCL could be a risky stock to buy. Their current high debt load will make brokers worry about long term stability. And their constant inconsistent numbers will make it a bumpy ride.
BUT, Kevin Sheehan has done an excellent job of cleaning up the mess that was given to him by previous management. NCL is positioned as the smaller, more flexible, far more progressive of the Big 3 lines. So if any line can turn it around, it would be NCL. They just don’t have the history of doing such.