Carnival says it may sell up to $500 million in shares – MarketWatch


Carnival Corp.

said Monday morning that it may sell up to $500 million in stock from time to time as part of an at-the-money equity offering program. The cruise company would use the proceeds from this stock offering to purchase ordinary shares of Carnival plc and may use any remaining proceeds for general corporate purposes. Carnival said in a filing with the Securities and Exchange Commission that it would sell shares through the offering only when shares of Carnival plc in the U.K. were trading at a discount to Carnival Corp.’s common stock. The announcement comes after Carnival disclosed last week that it expects a $2.1 billion net loss for the second quarter on a GAAP basis and that 42 ships from eight of the company’s brands had either resumed operations or were planning to by Nov. 30. Shares are down 4.8% in Monday morning trading. They’ve gained 70% over the past 12 months as the S&P 500

has risen 42%.

Like it? Share with your friends!



Your email address will not be published. Required fields are marked *

Choose A Format
Personality quiz
Series of questions that intends to reveal something about the personality
Trivia quiz
Series of questions with right and wrong answers that intends to check knowledge
Voting to make decisions or determine opinions
Formatted Text with Embeds and Visuals
The Classic Internet Listicles
The Classic Internet Countdowns
Open List
Submit your own item and vote up for the best submission
Ranked List
Upvote or downvote to decide the best list item
Upload your own images to make custom memes
Youtube, Vimeo or Vine Embeds
Soundcloud or Mixcloud Embeds
Photo or GIF
GIF format