LATAM Airlines to proceed with re-listing ADRs, secondary sale By Reuters
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Jul 03 2024
0mins
Source: Investing.com
- LATAM Airlines Plans to Re-list ADRs: LATAM Airlines intends to re-list American Depositary Receipts (ADRs) on the New York Stock Exchange.
- Secondary Sale Under Registration Rights Agreement: The company plans to conduct a secondary sale under a registration rights agreement requested by certain shareholders.
- Timeline Uncertain: While the re-listing and secondary sale are planned to occur simultaneously, the exact timing of these events is uncertain.
- Details of Secondary Sale: The secondary sale will take place exclusively in the United States and other jurisdictions outside of Chile through the issuance of new ADRs.
- Initiated Process in April: The process of re-listing ADRs on the NYSE was initiated by the Santiago-based carrier in April, with an estimated timeline of up to six months.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
