Cruise giant Carnival has announced plans to consolidate its dual stock market listings and relocate its corporate home to Bermuda, marking a significant shift in its corporate structure.
The company, which currently maintains separate listings in New York and London, will see its UK-based entity, Carnival Plc, become a wholly owned subsidiary. Following the unification, the combined parent company will trade solely on the New York Stock Exchange under the name Carnival Corporation Ltd.
The move also involves a change in domicile. Carnival, currently incorporated in the Republic of Panama, will shift its legal headquarters to Bermuda as part of the restructuring, according to a company filing.
The announcement comes on the heels of strong financial momentum. Last month, Carnival projected annual earnings above Wall Street expectations, fueled by sustained demand from higher-income travelers. The company’s stock has climbed roughly 30 percent over the past year.
About the Author
