Finance
Cruise operator Carnival to unify dual listing
Published by Global Banking & Finance Review®
Posted on February 20, 2026
1 min readLast updated: February 20, 2026
Quick Summary
Carnival will combine its New York and London listings into a single NYSE share, redomicile from Panama to Bermuda, and rename the parent Carnival Corporation Ltd, pending shareholder and regulatory approvals. ([carnivalcorp.com](https://www.carnivalcorp.com/unify/?utm_source=openai))
Carnival to Unify Dual Listings, Redomicile from Panama to Bermuda
Carnival’s Listing Unification and Redomicile
Feb 20 (Reuters) - Carnival will unify its parallel listings in New York and London and redomicile to Bermuda, the cruise operator said on Friday.
What Changes for Shareholders
The UK‑listed Carnival Plc is expected to become a wholly owned subsidiary and the combined parent will continue to trade on the New York Stock Exchange.
New Corporate Name: Carnival Corporation Ltd
Move from Panama to Bermuda
The company, which is currently domiciled in the Republic of Panama, will operate under the name "Carnival Corporation Ltd" after shifting to Bermuda following the unification, the company said in a filing.
Profit Outlook and Demand
Last month, Carnival forecast an upbeat annual profit above Wall Street estimates, boosted by resilient demand from affluent travelers.
Recent Stock Performance
Its stock is up about 30% over the last 12 months.
Reporting by Angela Christy (Bengaluru)
(Reporting by Angela Christy in Bengaluru)
Key Takeaways
- •Carnival will collapse its dual‑listed structure and redomicile from Panama to Bermuda under the name “Carnival Corporation Ltd,” subject to approvals. ([carnivalcorp.com](https://www.carnivalcorp.com/unify/?utm_source=openai))
- •Carnival plc will become a wholly owned UK subsidiary; the unified parent will list solely on the NYSE, with an expected delisting of Carnival plc from the LSE and its ADRs from the NYSE. ([sec.gov](https://www.sec.gov/Archives/edgar/data/815097/000110465925123242/tm2533375d14_425.htm?utm_source=openai))
- •Indicative timeline: shareholder materials in February 2026, votes in April 2026, and targeted effectiveness before end‑Q2 2026, pending approvals. ([carnivalcorp.com](https://www.carnivalcorp.com/unify/?utm_source=openai))
- •Management cites benefits including one global share price, simpler governance and reporting, reduced costs, and potential index weighting/liquidity gains. ([carnivalcorp.com](https://www.carnivalcorp.com/unify/?utm_source=openai))
- •Carnival recently raised profit guidance amid resilient cruise demand and reinstated a dividend, underscoring improved fundamentals. ([wsj.com](https://www.wsj.com/business/earnings/carnival-raises-outlook-as-results-beat-expectations-8735ddf2?utm_source=openai))
Frequently Asked Questions about Cruise operator Carnival to unify dual listing
1What is the main topic?
Carnival plans to end its dual‑listed structure, redomicile from Panama to Bermuda, and trade solely on the NYSE as Carnival Corporation Ltd, with Carnival plc becoming a wholly owned UK subsidiary. ([carnivalcorp.com](https://www.carnivalcorp.com/unify/?utm_source=openai))
2When will the unification take effect?
Shareholder materials are expected in February 2026, votes in April 2026, and—if approved—the unification and Bermuda incorporation are targeted to complete before end‑Q2 2026. ([carnivalcorp.com](https://www.carnivalcorp.com/unify/?utm_source=openai))
3What happens to Carnival plc shares and listings?
Carnival plc shareholders are expected to receive a one‑for‑one exchange into the Bermuda‑incorporated parent; Carnival plc will be delisted from the LSE and its ADRs from the NYSE on completion, while the parent remains on the NYSE. ([sec.gov](https://www.sec.gov/Archives/edgar/data/815097/000110465925123242/tm2533375d14_425.htm?utm_source=openai))
