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Carnival Corporation & plc, the British-American cruise operator, has announced that Carnival Corporation has filed a supplement with the US SEC, stating that it may offer and sell shares through its agent BofA Securities Inc.
The supplement allows an aggregate offering price of up to $500 million through an equity offering program.
Carnival Corporation plans to use the net proceeds from the offering to purchase ordinary shares of Carnival plc on an equivalent basis.
Carnival Corporation may use the remaining net proceeds for general corporate purposes.
Carnival Corporation intends to sell the shares in the offering when the ordinary shares of Carnival plc are trading in a United Kingdom market at a discount to shares of Carnival Corporation.
The maximum number of ordinary shares of Carnival plc which may be purchased by Carnival Corporation under the Share Purchase Program is 18,383,016 shares.