Genting HK sells $270.1 worth of shares in NCLH

Casino cruise operator Genting Hong Kong has announced the sale of 10 million shares in Norwegian Cruise Line Holdings for an aggregate amount of US$270.1 million.

Genting said on a Friday filing that the proceeds of the sale will be used for general working capital and to fund new investments of the group should opportunities arise.

Upon completion of the offering, the percentage of NCLH shares held by its subsidiary Star NCLC will decrease from 7.83 percent to 5.64 percent.

Genting said it decided to sell the shares as it was a “good opportunity for the group to realise profits with cash inflow from partial realisation of its investment in NCLH.”

“The Directors believe that the terms of the Offering are fair and reasonable, and in the interests of the Company and its Shareholders as a whole,” it added.

The company additionally announced the resumption of trading on 9am November 17, after a 24-hour halt.

More news from this jurisdiction

Hong KongWednesday, Feb 14, 2018

A raid on an illegal gambling den in Hong Kong has led to the arrest of 14 people and the seizure of more than HK$600,000 (US$76,700).

Hong KongSunday, Jan 28, 2018

Landing International Development says it expects to record a profit for the year ended December 31, 2017, after posting a loss the year before.

Mainland China, Hong KongTuesday, Dec 05, 2017

Chinese police have arrested 71 suspects involved with cross-border online gambling operations across Guangdong and Hong Kong.

Hong KongThursday, Nov 16, 2017

Genting Hong Kong has requested a halt in the trading of its shares on the HKEx pending an announcement relating to the disposal of Norwegian Cruise Line shares.

Hong KongFriday, Oct 27, 2017

The Hong Kong Football Association (HKFA) has demonstrated its on-going commitment to integrity by hosting a week-long integrity programme for players and officials across the territory.

Hong KongMonday, Oct 23, 2017

MGM is proud to have won one Gold and two Bronze Awards at the HR Innovation Awards 2017 organized by the Human Resources magazine.

Hong KongMonday, Oct 09, 2017

Melco International Development plans to give Hong Kong’s Jumbo Floating Restaurant in Aberdeen Harbour a facelift, local media reports.