Cruise and casino investor Genting Hongkong Ltd. is disposing its 2.19 percent stake in cruise operator Norwegian Cruise Line Holdings, Ltd. (NCLH) worth US$270.1 million in net proceeds.

In a disclosure to the HongKong Stock Exchange, Genting said that a total of 5 million shares will be up for sale to underwriter Morgan Stanley. The sale will be done via Genting Hong Kong’s wholly-owned subsidiary Star NCLC Holdings Ltd.

As of Wednesday, Genting HongKong’s shares at NCLH had a market value of about $275.4 million. Meanwhile, Genting HongKong stopped trading of its shares on Thursday pending an announcement related to the divestment of its shares in the Nasdaq-listed cruise operator.

Based on their initial estimate, Genting HongKong is expecting a gain of about $57.4 million from the sale. After the whole transaction is completed, Genting’s stake in NCLH will be reduced to 5.64 percent.