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The company LATAM Airlines Group returns to the stock market New York, after leaving in 2020 due to pandemic and its process of Chapter 11.
After having positively passed its Chapter 11 and have emerged stronger in its finances and operations, LATAM Airlines and its subsidiaries take an important step for the future: return to the bag.
LATAM returns to the stock market
LATAM Airlines Group S.A., the main group of passenger and cargo airlines in South America, announced today the reopening and new listing of its ADR program on the Stock Exchange of New York (NYSE). This occurs after the pricing of a secondary public offering by certain shareholders of the company to sell 19.000.000 de American Depositary Shares (ADRs), each representing 2.000 common shares of LATAM, at a public price of US$24 per ADR.
The ADRs are expected to begin trading on the Stock Exchange. New York (NYSE) under the symbol «LTM». This operation marks the return of LATAM Airlines Group a NYSE, after his departure in June 2020 after entering into a restructuring process under Chapter 11.
Regarding the offer under subscription, The selling shareholders have granted the subscribers an option to 30 days to buy up 2.850.000 Additional ADRs at the IPO price. LATAM will not receive any income from the sale of ADRs by the selling shareholders. The offer is expected to close on 26 July 2024, subject to compliance with customary closing conditions.
Goldman Sachs & Co. LLC, Barclays Capital Inc. y J.P. Morgan Securities LLC are acting as global coordinators and lead bookrunners for the offering.. Citigroup Global Markets Inc., Santander US Capital Markets LLC, Deutsche Bank Securities Inc., BNP Paribas Securities Corp., MUFG Securities Americas Inc., Natixis Securities Americas LLC and Larraín Vial S.A are acting as additional underwriters and Morgan Stanley & Co. LLC participates as co-manager in the transaction.
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