Eyal Ofer might sell Royal Caribbean Cruise stake

October 14, 2020

Israeli billionaire Eyal Ofer might be selling most of his stake in Royal Caribbean Cruise (NYSE: RCL) in an offering on the New York Stock Exchange. Royal Caribbean has filed to raise $1 billion – half in shares and half in bonds – to help it survive the Covid-19 crisis, which has hit the cruise tourism industry hard.

Eyal Ofer holds a 5.3% stake in Royal Caribbean through Osiris Holdings and he sits on the cruise company’s board of directors. His shares are currently worth $684 million down from a peak $1.509 billion in January before the crisis. According to the prospectus filed by Royal Caribbean, Ofer could have the option to sell most of his stake.