With a third secondary public offering announced by Norwegian Cruise Line Holdings, principal shareholders Genting (through is Bermuda subsidiary Star NCLH Holdings) and Apollo are continuing to reduce their ownership interests in the cruise line.

Following its IPO in January of 2013, other secondary offerings were made in August and December.

Together Genting and Apollo are offering 15 million shares and will see their respective holdings reduced to 27.7 percent and 19.9 percent from 50 percent and 37.5 percent at the time of the IPO.

In addition, according to Wells Fargo Securities, Genting has filed to be able to sell all of its remaining shares within the next 12 months.

The third principal shareholder, TPG Viking Funds, now holds 7.8 percent down from 12.5 percent.

The shares are being sold by the shareholders and Norwegian will not sell any ordinary shares in the offering and will not receive any of the proceeds from the offering. The total number of Norwegian ordinary shares outstanding will not change as a result of the offering.

At press time and following the announcement, NCLH was listed at $33.00, down 2.5 percent in a market that was otherwise flat, and down from a 52-week high of $37.00, but significantly up from a low of $19 during the first quarter of last year. The P/E was listed at 67.41.

As of Feb. 1, 2014, Norwegian said in its annual report that there were 151 record holders of ordinary shares. However, since brokers may be holdings for owners, the company said that it is not representative of the number of owners.

Citigroup is acting as the sole underwriter for the offering, and proposes to offer the ordinary shares from time to time for sale in one or more transactions on the NASDAQ Global Select Market, in the over-the-counter market, through negotiated transactions or otherwise at prevailing market prices, at prices related to prevailing market prices or at negotiated prices.