Latam Airlines bags $784m in capital raise

Latam Airlines bags $784m in capital raise

Equity

Latam Airlines closed its rights offering on December 19 to raise $784m, 83% of the total available. Stockholders subscribed to 51.7m shares — of 62m offered — at $15.17 each. The bulk of the unsubscribed rights corresponded to the Amaro Group. Latam Airlines says the unsold shares are likely to be sold into the market “as deemed opportune”. Most of the follow-on — 93% — was sold in local shares. ADRs represented 6% of the sale, and BDRs, 1%. The price, fixed in November, was a 7.5% discount to

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