The company LATAM Airlines Group returns to the stock market New York, after leaving in 2020 due to pandemic and its process of Capíleakage 11.
After having positively passed its Capíleakage 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., Aerol's main groupípassenger and cargo lines in Américh from the South, announcementó today the reopening and new priceón of its ADR program on the Stock Exchange New York (NYSE). This happens afterés of establishing prices of an offer púsecondary bidding by certain shareholders of the companyñíto sell 19.000.000 de American Depositary Shares (ADRs), each representing 2.000 common shares of LATAM, at a priceú$24 per ADR.
The ADRs are expected to begin trading on the Stock Exchange. New York (NYSE) under the sípenis «LTM». It's an operationón marks the return of LATAM Airlines Group a NYSE, after his departure in June 2020 afterés to enter into a restructuring processón under the Capíleakage 11.
Regarding the offer under subscriptionón, The selling shareholders have granted the subscribers an optionón of 30 díace to buy up 2.850.000 Additional ADRs to the offer price púinitial bible. LATAM not receiveá andún 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 actúas global coordinators and main underwriters in the offer. 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 actúas additional underwriters and Morgan Stanley & Co. LLC participates as co-manager in the transactionón.
