DREAM Cruises has received US$307 million in liquidity from new share subscriptions issued to Darting Investment Holdings and fellow Genting Hong Kong subsidiary Ocean World.
Darting paid US$59 million, received in full in cash, and Ocean World’s investment of nearly US$248 million, was set-off against an equivalent amount of intercompany loans or balances owed by Dream.
With this, Ocean World’s stake in the cruise line grew to 70% from 67%, while Darting’s went to 30% from 33% .
The investment will provide additional liquidity to Dream to meet its upcoming financial obligations and prepare for the target resumption of Genting Dream in Jul, which would see the entirety of the cruise line’s fleet sailing.
Explorer Dream and World Dream have both been sailing since last year.
The cruise line’s restart in Singapore has been a hit, and Dream recently welcomed the island’s 100,000th cruise passenger post its restart (CW 17 Mar).