LATAM Airlines to Proceed with Re-Listing ADRs and Secondary Sale in the U.S.

LATAM Airlines has announced its intention to proceed with the process of re-listing American Depositary Receipts (ADRs) and conducting the first secondary sale under the registration rights agreement. The Santiago-based carrier initiated the re-listing process of ADRs on the New York Stock Exchange in April, with an estimated timeline of up to six months.

Simultaneous Re-Listing and Secondary Sale

According to a filing to Chile's stock exchange, LATAM Airlines aims to re-list ADRs concurrently with the planned secondary sale. However, the company emphasized the uncertainty regarding the timing of these events. The secondary sale will be exclusively conducted in the United States and other jurisdictions outside of Chile, involving the issuance of new ADRs.

Shareholder Requested Process

This initiative aligns with the request made by certain shareholders for the re-listing of ADRs and underscores the company's commitment to accommodating shareholder interests and facilitating their investment activities.

As of now, the company is working towards completing the re-listing process and organizing the secondary sale in accordance with regulatory and procedural requirements.