Genting Hong Kong
Genting Hong Kong. Reuters

Cruise operator Genting Hong Kong on Friday said its unit Star NCLC entered has agreed to sell 5 million shares in Norwegian Cruise Line Holdings to third party investors for US$270.1 million.

As per the deal, Star NCLC is proposing to sell 5 million shares in Norwegian Cruise, representing about 2.2 percent of the cruise line, it said in a filing to the Singapore Exchange.

Star NCLC' stake in Norwegian Cruise, which operates brands such as Oceania Cruises and Regent Seven Seas Cruises, will decrease to 5.64 percent after the divestment.

The market value of Star NCLC's 5 million shares amounted to US$275.4 million, it said in the statement.

Genting Hong Kong said the proceeds from its portion of the share sale will be used as general working capital and to fund new investments.

The Hong Kong-listed company said earlier this month that its shares would be delisted from the Singapore Exchange (SGX) on April 17, with the last day of trading on April 10 next year.

Last month, Genting Hong Kong said that it plans to focus its efforts in North Asia, and that a primary listing in Hong Kong will increase its visibility among North Asian investors and the liquidity of its stock.

Trading in Genting Hong Kong shares, which were suspended on Thursday, will resume on Friday.