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    Norwegian Cruise Lines plans IPO

    LONDON — Norwegian Cruise Line Holdings, the cruise line operator whose owners include Apollo Global Management, filed for an initial public offering in the United States that may raise as much as $424 million.

    The company is offering 23.5 million shares at $16 to $18 each, a regulatory filing Tuesday shows. The midpoint of the range values the Miami-based company at $3.41 billion, or more than 20 times earnings in the 12 months through Sept. 30.

    That compares with about 17 times earnings for Royal Caribbean Cruises and 23 times for Carnival, both listed as competitors in Norwegian’s prospectus.


    Norwegian is offering about 12 percent of its shares in the sale, and the proceeds will be used to redeem or prepay outstanding debt, the filing shows. The sale is scheduled for Jan. 17, according to data compiled by Bloomberg. Apollo and other existing owners Genting Hong Kong and TPG Capital aren’t selling stock, according to the filing.

    The company operates a fleet of almost a dozen ships and plans to expand over the next few years, according to the filing. Norwegian generated $2.26 billion in revenue in the 12 months through September operating trips to destinations including Europe, Alaska, Bermuda, and Hawaii.