LATAM Airlines shares drop after $767 mln secondary offering priced

LATAM Airlines

14/08/2025 12:40

** U.S.-listed shares of Chile-based LATAM Airlines LTM.N down 4.5% premarket to $42.74 after
    secondary offering priced

    ** LTM announces 18 mln American Depositary Shares (ADS) sold by existing shareholders at $42.60, which equates to $766.8 mln gross proceeds

      ** Offering size boosted from 15
 mln ADS, and priced at 4.8% discount to U.S.-listed shares last close of $44.75

    ** Selling shareholders include investment firm Sixth Street, Strategic Value Partners and Delta Air Lines DAL.N, according to the prospectus

** JP Morgan and Barclays are underwriters for the offering

** U.S.-listed shares on Wed rose ~3%, extending YTD gain to 62%

    ** All 6 analysts rate LTM "buy" and median PT is $52.50, per LSEG data

(Lance Tupper is a Reuters market analyst. The views expressed are his own)

((lance.tupper@tr.com 1-646-279-6380))