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Thursday, January 17, 2013

Norwegian Cruise Line's IPO prices above range, (NYSE: APO)

Global cruise line operator Norwegian Cruise Line Holdings Ltd priced its initial public offering at $19 a share on Thursday, above its expected range, an underwriter said.The Miami, Florida-based company, backed by private equity firms Apollo Global Management LLC and TPG, raised $446.5 million by pricing 23.5 million shares as planned.Norwegian Cruise Line, which is selling all the shares being offered, had intended to price shares at $16 to $18.The deal marks the first public float in 2013 from a private equity-backed company.

Apollo Global Management, LLC (Apollo) is a global alternative asset manager. Shares of APO traded higher by 1.11% or $0.22/share to $20.05. In the past year, the shares have traded as low as $10.42 and as high as $20.15. On average, 356918 shares of APO exchange hands on a given day and today's volume is recorded at 367524.