The Kingdom of Saudi Arabia said it acquired an 8.2% stake in Carnival Corporation, the world’s biggest cruise operator.
Carnival Corporation closed its registered public offering of 71,875,000 shares of common stock at a price of $8.00 per share on Monday.
Now, it has surged to $10.04 in New York, after Saudi Arabia’s Public Investment Fund said in a filing that it holds 43.5 million shares of the company.
The news of the Saudi investment comes as the cruise operator has faced a series of fatal COVID-19 disasters on its cruise ships, including Diamond Princess which claimed the title of the biggest outbreak outside China in February.
Meanwhile, the Corporation announced that it has closed its previously announced private offering to qualified institutional buyers of $1.95 billion aggregate principal amount of 5.75% convertible senior notes due 2023.
