Finance History | 11 Wall Street — Eighteen Dollars for Ten Million Cruise Shares Called RCL
· 1993-4
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Finance History | 11 Wall Street — Eighteen Dollars for Ten Million Cruise Shares Called RCL
kevin
People treat Royal Caribbean as a Miami cruise house that always printed RCL after a finished New York book.
The April 1993 issuer was Royal Caribbean Cruises Ltd., a Liberian company whose ships were already on the water.
Cruise Industry News, writing that month, recorded the pricing: 10 million common shares at 18 dollars a share in 1993 currency.
The same report put the first New York prints under the letters RCL near 18.75 dollars and the net proceeds near 168 million dollars, earmarked to repay debt.
A later company FAQ restated the public price as 9 dollars after a two-for-one split.
Regular-way trading on the New York Stock Exchange under RCL began on 28 April 1993.
The present tape is RCL on the New York Stock Exchange. Oslo later carried a secondary book under the same letters.
The mechanism is a primary cruise IPO that sold a minority slice while the founding Norwegian and Pritzker holders stayed on the register.
The pin is the public Broad Street facade of the 1903 New York Stock Exchange building, the street marker for the tape that now prints RCL.
Interior trading is not visitable from the sidewalk.
Photo: Arild Vagen, August 2017, CC BY-SA 4.0, via Wikimedia Commons. New York Stock Exchange from Broad Street.
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