(Reuters) – LATAM Airlines said on Tuesday it plans to proceed with the process of re-listing its American Depositary Receipts (ADRs) in parallel with the first secondary sale under the so-called registration rights agreement, requested by some shareholders.
The Santiago-based carrier began the process of relisting the ADRs on the New York Stock Exchange in April and said at the time that the process could take up to six months.
In a filing with the Chilean stock exchange, the company said it intended to re-list the ADRs at the same time as the secondary sale, but stressed that it was uncertain when those events would take place.
Regarding the secondary sale, LATAM Airlines said in the statement that it will occur exclusively in the United States and other jurisdictions outside Chile, and that it will be carried out through the issuance of new ADRs.
(Reporting by Anthony Esposito; Writing by Aida Pelaez-Fernandez; Editing by Brendan O’Boyle)
