Norwegian Cruise Line’s shares have risen 32% since its first day as a publicly traded company on Friday, opening at $25 today.
The cruise line’s initial public offering (IPO) of 23.5 million shares originally saw each share priced at $19 on the US stock exchange Nasdaq, above the expected range of $16 to $18, but each share gained $5.79 by the time trading closed on Friday, rising to $24.79.
It opened at $25 today, 32% above the $19 offering price, and has raised about $446.5 million for the company.
Norwegian joins other publicly-traded cruise lines, including Royal Caribbean Cruises Ltd and Carnival Corporation, and has said it plans to use part of the $446 million it raised to pay down some of its $3.1 billion debt.