LATAM Airlines falls after pricing $676 mln secondary offering

ReutersSep 25, 2025 11:35 AM

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U.S.-listed shares of Chile's LATAM Airlines LTM.N down 4.2% at $44.02 before the bell after secondary offering priced

LATAM announces ~15.5 mln American Depositary Shares (ADSs) sold by Strategic Value Partners (SVP) at $43.60 for about $676 mln gross proceeds

Offering price represents 5.2% discount to shares last close

Prior to the offering, Victor Khosla's hedge fund SVP owned ~31 bln ADSs, or 5.13% of ~604.4 bln total ADSs outstanding, per the prospectus

JP Morgan and Goldman Sachs are underwriters for the offering

U.S.-listed shares on Weds fell 3.5%, leaving them up 67% YTD

All 6 analysts covering LTM rate the shares "buy" and median PT is $52.95, per LSEG data

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