LATAM Airlines shares drop after $767 mln secondary offering priced

** U.S.-listed shares of Chile-based LATAM Airlines LTM.N down 4.5% premarket to $42.74 after secondary offering priced

** LTM announces 18 mln American Depositary Shares (ADS) sold by existing shareholders at $42.60, which equates to $766.8 mln gross proceeds

** Offering size boosted from 15 mln ADS, and priced at 4.8% discount to U.S.-listed shares last close of $44.75

** Selling shareholders include investment firm Sixth Street, Strategic Value Partners and Delta Air Lines DAL.N, according to the prospectus

** JP Morgan and Barclays are underwriters for the offering

** U.S.-listed shares on Wed rose ~3%, extending YTD gain to 62%

** All 6 analysts rate LTM "buy" and median PT is $52.50, per LSEG data