LATAM Airlines (LA, Santiago de Chile) parent LATAM Airlines Group returned to the New York Stock Exchange on July 25, 2024, having previously delisted in June 2020 after entering into a Chapter 11 restructuring process.
The relisting follows the pricing of a public secondary offering by certain LATAM shareholders to sell 19 million American depositary shares (ADSs), each representing 2,000 common LATAM shares, at USD24.00 each, and raising USD456 million. LATAM shares also trade on the Santiago stock exchange (Bolsa de Santiago).
The selling shareholders have also granted the underwriters backing the NYSE relisting a 30-day option to buy up to an additional 2.85 million ADSs at the initial public offering price, from which LATAM will not receive any proceeds. Subject to the satisfaction of customary closing conditions, the offer is expected to close on July 26.
