LATAM Airlines Group confirmed the pricing of a public secondary offering where a shareholder sells 12 million American Depositary Shares at €57.20 per ADS on the New York Stock Exchange. Each ADS represents 2,000 common shares with another shareholder selling 9 million ADS concurrently. LATAM receives no proceeds from the transactions.
The offering involves unnamed shareholders divesting holdings. The ADSs are listed for trading on the NYSE. The move forms part of shareholder portfolio adjustments.
Full details are filed with the US Securities and Exchange Commission. The sales do not impact LATAM’s operational funding.
LATAM Airlines Group shared in a written statement: The ADSs, each representing 2,000 common shares, are being sold by an unnamed shareholder, not the company. Concurrently, another shareholder also launched a public offering to sell 9 million ADS. LATAM will not receive any proceeds from the sales.
