{"id":166979,"date":"2024-07-18T14:00:51","date_gmt":"2024-07-18T14:00:51","guid":{"rendered":"https:\/?p=166979"},"modified":"2024-07-18T21:35:09","modified_gmt":"2024-07-18T21:35:09","slug":"latam-airlines-readies-nyse-listing-at-8-5-bln-potential-valuation","status":"publish","type":"post","link":"https:\/\/aviacionaldia.com\/en\/2024\/07\/latam-airlines-readies-nyse-listing-at-8-5-bln-potential-valuation.html","title":{"rendered":"LATAM Airlines readies NYSE listing at $8.5 bln potential valuation"},"content":{"rendered":"\n

LATAM Airlines <\/strong>is preparing to list its shares on the New York Stock Exchange in a move that could fetch it a valuation of $8.5 billion, the company said on Thursday.<\/p>\n\n\n\n

The carrier could raise over $533 million for its selling shareholders if it were to sell shares at a price near its last close on the Chilean stock exchanges, where they are already listed.<\/p>\n\n\n\n

Companies based outside the U.S. often seek a New York listing to command a richer valuation and access a deeper pool of capital.<\/p>\n\n\n\n

LATAM Airlines’ listing, however, would come at a time when shares of some newly listed firms have stumbled, undermining the recovery in initial public offerings (IPOs) seen this year.<\/p>\n\n\n\n

\u2192 LATAM inaugurates nonstop flights between Bogota and Madrid<\/a><\/em><\/strong><\/p>\n\n\n\n

The company traces its origins to as far back as 1929 and has a significant presence in South America, including in Santiago and Sao Paulo.<\/p>\n\n\n\n

It went bankrupt in 2020 as the COVID-19 pandemic hammered travel demand, but emerged from bankruptcy two years later.<\/p>\n\n\n\n

The company’s shareholders plan to sell 19 million American Depositary Shares (ADSs), which would be listed under the symbol “LTM.” It would not receive any proceeds from the share sale.<\/p>\n\n\n\n

Goldman Sachs, Barclays and J.P. Morgan are the global coordinators for the listing, LATAM Airlines said.<\/p>\n\n\n\n

With information from Reuters<\/a><\/p>\n\n\n\n

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