LATAM Airlines to start process of re-listing shares on NYSE
Reuters
Published Apr 03, 2024 10:11PM ET
Updated Apr 03, 2024 10:40PM ET
(Reuters) -LATAM Airlines said on Wednesday its board gave approval to begin the process of re-listing American Depositary Receipts (ADRs) on the New York Stock Exchange.
In a filing to Chile's stock exchange, the company said the process involves meeting various requirements from the NYSE and the U.S. Securities and Exchange Commission and could take up to six months.
The Santiago-based carrier traded ADRs, which foreign companies use to list their shares on U.S. stock exchanges, on the NYSE before declaring bankruptcy in 2020.
The company emerged from bankruptcy proceedings with an $8 billion reorganization plan in late 2022.
Re-listing will require consent from the principal creditors that supported the company's Chapter 11 reorganization plan, "without whom the company would not have emerged from the reorganization process," the filing said.
Get The News You Want
Written By: Reuters
Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors. Prices of cryptocurrencies are extremely volatile and may be affected by external factors such as financial, regulatory or political events. Trading on margin increases the financial risks.
Before deciding to trade in financial instrument or cryptocurrencies you should be fully informed of the risks and costs associated with trading the financial markets, carefully consider your investment objectives, level of experience, and risk appetite, and seek professional advice where needed.
Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. The data and prices on the website are not necessarily provided by any market or exchange, but may be provided by market makers, and so prices may not be accurate and may differ from the actual price at any given market, meaning prices are indicative and not appropriate for trading purposes. Fusion Media and any provider of the data contained in this website will not accept liability for any loss or damage as a result of your trading, or your reliance on the information contained within this website.
It is prohibited to use, store, reproduce, display, modify, transmit or distribute the data contained in this website without the explicit prior written permission of Fusion Media and/or the data provider. All intellectual property rights are reserved by the providers and/or the exchange providing the data contained in this website.
Fusion Media may be compensated by the advertisers that appear on the website, based on your interaction with the advertisements or advertisers.