LATAM Airlines slips on pricing $743 mln secondary offering

LATAM Airlines

10/02/2026 13:06

** U.S.-listed shares of Chile-based LATAM Airlines LTM.N down 3.3% premarket to $62.74 after secondary offering priced

    ** LTM late Mon announced a
    shareholder sold 12 mln
    American Depositary Shares (ADSs) at $61.90, which equates to $742.8 mln

    ** Offering size boosted from 9 mln ADSs and priced at 4.5% discount to stock's last close

    ** Sixth Street, which owned ~99.9 bln shares, or 17.4% of LTM's ~574.2 bln shares outstanding, is the selling shareholder, per the prospectus

    ** 1 ADS = 2,000 common shares

** JP Morgan sole underwriter for offering

** Through Mon, U.S.-listed LTM shares up 20% YTD. They closed at $32.12 a year ago

    ** 6 of 7 analysts rate shares "buy", 1 recommends "hold"; median PT $66.20, per LSEG

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

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