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Apollo-backed Prestige Cruises eyes $250m IPO

23 Jan 2014

shares stocks IPOPrivate equity-backed cruise company Prestige Cruises International is looking to raise up to $250m via an IPO, according to a regulatory filing.

Prestige, which is a portfolio company of Apollo Global Management, did not say how many shares it was looking to offer and at what price.

The company currently operates eight cruise ships and posted profits of $47.6m in the first nine months of 2013, up from $26.3m a year earlier.

Apollo’s recent deals included the acquisition of healthcare-focused mid-market lender MidCap Financial and its exit from residential brokerage Realogy Holdings Corp that followed a signfiicant increase in its share price.

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