HONG KONG: Mainboard-listed Genting Hong Kong announced on Thursday that it will dispose of some 20 million shares of Norwegian Cruise Line Holdings (NCLH) and gain proceeds of about US$389.3 million from the sale.
The proceeds will be used for general working capital for the group and to fund new investments of the group should suitable opportunities arise, Genting said in a filing with the Singapore Exchange.
The shares will be sold for an aggregate consideration of US$546.1 million.
Upon completion of the offering, the percentage of the NCLH shares held by Genting’s wholly owned subsidiary Star NCLC will decrease from about 22 per cent to about 17.7 per cent. As a result, the group will cease to account for its share of results and net assets of NCLH as an “associate” with effect from May 26, 2015, the date of completion of the offering.
