Latam Airlines To Proceed With Re: listing ADRs, secondary sale (updated)

LATAM Airlines

03/07/2024 01:12

(Adds information about secondary sale and the process of
re-listing in New York)
       July 2 (Reuters) - LATAM Airlines  LTM.SN  said on
Tuesday it intends to proceed with the process of re-listing
American Depositary Receipts (ADRs) in tandem with the first
secondary sale under the so-called registration rights
agreement, which certain shareholders requested.
    The Santiago-based carrier started the process of re-listing
ADRs on the new York Stock Exchange in April and said back then
that the process could take up to six months.
    In a filing to Chile's stock exchange, the company said it
intends to re-list ADRs at the same time as the secondary sale
will take place, but pointed out that it is uncertain when those
events will take place.
        About the secondary sale, LATAM Airlines said in the
statement that it will occur exclusively in the United States
and other jurisdictions outside of Chile, and it will be done
through the emission of new ADRs. 
  
    

 (Reporting by Anthony Esposito; Writing by Aida
Pelaez-Fernandez; Editing by Brendan O'Boyle)
 ((Brendan.OBoyle@thomsonreuters.com;))