
Norwegian Cruise Line (NCLH) sailed more than 30% above its initial public offering prices when its shares debuted on the Nasdaq (NDAQ) Friday.
The third largest cruise ship operator in North America sold 23.5 million shares for $19 apiece -- slightly better than the estimated range of $16 to $18.
Norwegian Cruise Line plans to use part of the $446 million it raised to pay down some of its $3.1 billion debt load.
A consortium of private equity firms, including Apollo and TPG, had acquired the company in 2008.
Related: Norwegian Cruise Line IPO is big win for private equity
It seems like cruise ship companies are back in vogue. Carnival Corp., and others, have struggled with bookings over the past year after Carnival's Costa Concordia crashed off the coast of Italy, resulting in 17 fatalities.
But that's started to change. Just this week, shares of Royal Caribbean (RCL) hit a 52-week high on an improved outlook for bookings. And even Carnival (CCL) has started to make a comeback.
Both profits and revenues have been increasing for Norwegian Cruise Line, which operates cruises in North America, Europe, and Central America. The company earned $165 million on $2.2 billion of revenue for the first nine months of 2012. Both were up 29% from the prior year.
This week kicked off the first of the IPOs for 2013, with five companies going public.
Shares of home furnishing retailer Restoration Hardware (RH) surged in their debut on the New York Stock Exchange Friday morning.
The retailer raised $122 million in its IPO, which priced at $24 a share -- the high end of its estimated range. It will use the bulk of the proceeds to pay down debt and pay management fees to its private equity owners -- Catterton, Tower Three and Glenhill -- MORE
Maureen Farrell - Nov 2, 2012 12:35 PM ET
Investors are making a bold gamble that the housing rebound will be steep and swift with the initial public offering of Realogy.
Realogy, which owns Century 21, Coldwell Banker, Corcoran and Sotheby's International Realty, raised more than $1 billion through its initial public offering that priced Wednesday night at $27 a share -- the high end of its estimated range. It's the third-largest IPO of the year behind Facebook (FB) and MORE
Maureen Farrell - Oct 11, 2012 11:54 AM ET
LifeLock hasn't found much security in the public markets yet.
Shares of the maker of identity theft protection services, which began trading Wednesday under the ticker "LOCK" (LOCK), fell nearly 7% in their New York Stock Exchange (NYX) debut.
LifeLock was poised for an inauspicious kickoff. The company's underwriters priced the 15.7 million shares sold in the IPO at $9 -- below the expected range of $9.50 to $11.50. The IPO generated MORE
Maureen Farrell - Oct 3, 2012 11:06 AM ET
Shares of Facebook (FB) rebounded from an all-time low Wednesday, after CEO Mark Zuckerberg said he'd be holding onto his shares for at least a year.
Ever since Facebook went public in May, the stock has struggled to gain traction as investors worry about the social network's mobile strategy and how much pressure will come from the expiration of multiple lock-up periods (when insiders can sell their shares).
But after the market MORE
Maureen Farrell - Sep 5, 2012 10:52 AM ET
Nasdaq can't seem to put the Facebook IPO debacle behind it.
Shortly after the botched IPO, Nasdaq proposed a $40 million settlement to compensate brokers who were affected by trading glitches on Facebook's opening day (May 18).
Nasdaq (NDAQ) upped that figure to $62 million in mid-July, and Nasdaq CEO Bob Greifeld called it "definitive" during a July 25 conference call with analysts.
Citigroup (C) and UBS (UBS) have come out swinging. In MORE
Maureen Farrell - Aug 23, 2012 12:33 PM ET
Trulia Inc., the company behind real estate website Trulia.com, filed for an initial public offering that is expected to raise as much as $75 million, though the company did not specify how many shares it plans to sell or how they will be priced.
Earlier in the summer, Trulia filed for a so-called confidential IPO thanks to the Jumpstart Our Business Startups, or JOBS Act, which was signed into law in April.
The law allows "emerging MORE
Hibah Yousuf - Aug 17, 2012 10:39 AM ET
Manchester United didn't have many fans cheering for the 134-year-old British soccer team when it made its debut on the New York Stock Exchange (NYX) Friday.
Shares of Manchester United (MANU) barely budged above their $14 initial public offering price. The stock opened at $14.05 and stuck mostly around that level for most of the day. The stock closed its first day of trading precisely at its $14 IPO price.
Manchester United MORE
Maureen Farrell - Aug 10, 2012 2:43 PM ET
Shares of Outback Steakhouse owner Bloomin' Brands (BLMN) surged 10% above its initial public offering price in its debut on the Nasdaq (NDAQ) Wednesday morning.
It's not a home run for Bloomin' Brands or its private equity parents, Bain Capital and Catterton Partners. Bloomin' Brands' underwriters cut the size of the offering to 16 million shares from 21 million, and dropped the IPO price to $11 from a range of $13 MORE
Maureen Farrell - Aug 8, 2012 11:58 AM ET
Shares of Tex-Mex restaurant chain Chuy's spiked as much as 18% Tuesday as they made their stock market debut.
Austin, Texas-based Chuy's (CHUY), which operates 36 full-service restaurants across the Lone Star State and the Midwest, raised $76 million in its initial public offering after pricing 5.8 million shares at $13 apiece, the high ends of its estimated range.
Chuy's boasts about having a broad customer base, with only three of the MORE
Hibah Yousuf - Jul 24, 2012 1:26 PM ET