While Norwegian Cruise Line (NCL) is planning its IPO, it has been reported that this is 23 years in the coming since the company withdrew plans following the market crash in October 1987. That is not quite correct, however. as NCL did go public in Norway in 1986 as Kloster Cruise and two years later changed its name to Vard, which was subsequently also listed on the London stock exchange.
In 1998, NCL Holding, then the parent company to NCL, announced plans to offer 10 million American Depository Shares, representing 40 million ordinary shares, in effect an IPO in the U.S., but subsequently withdrew the offer, allegedly for lack of support. Meanwhile, NCL was listed on the New York Stock Exchange until the company was acquired by the Star Group and then delisted.