Prestige Cruise Holdings, parent company of Regent Seven Seas Cruises and Oceania Cruises, has filed with U.S. regulators to raise up to $250 million in an initial public offering of common stock, the Reuters news agency reports.
Prestige is controlled by Apollo Management, the US based private equity company that took the Norwegian Cruise Line group public in 2012-13.
Net proceeds from the offering will be used to repay debt and for working capital purposes, Miami, Florida-based Prestige said, according. to the report
The company's net profit rose to $47.6 million in the nine months ended Sept. 30, from $26.3 million, a year earlier. Revenue rose 7% to $917.4 million.
