Genting HK selling a stake in Norwegian Cruise Line

In a filing with the SGX, Genting Hong Kong said the the delisting was because it intended to focus on its core activities relating to the operation of cruise ships in Asia (in particular, North Asia), and has undertaken various initiatives to meet the growing demands of the Chinese market.

KUALA LUMPUR: Genting Hong Kong Ltd is selling a stake in Norwegian Cruise Line Holdings Ltd (NCLH) and has requested for a trading halt in its shares on the Singapore Stock Exchange.

Its chairman and CEO Tan Sri Lim Kok Thay said in the announcement to SGX the trading halt was from 9am pending the release of an announcement relating to NCLH which is listed on the Nasdaq Global Select Market.

Lim said the trading halt was pursuant to an underwriting agreement between NCLH, certain shareholders (including Star NCLC Holdings Ltd., a unit of Genting HK) and a third party underwriter on Aug 10, 2017 (New York time).

NCLH is a global cruise company which operates the Norwegian Cruise Line, Oceania Cruises and Regent Seven Seas Cruises brands. 

With a combined fleet of 25 ships with approximately 50,400 berths, these brands offer itineraries to more than 510 destinations worldwide, says the NCLH.