The New York Stock Exchange said it has notified the Securities and Exchange Commission that it will list the American Depositary Receipts (ADRs) of the Latam Airlines group as of June 22.
The NYSE said the rules allow you to suspend or remove securities from a company that is undergoing judicial reorganization or has an interest in doing so from the list. Latam filed for bankruptcy in a New York court on May 26.
For the same reason, the New York Stock Exchange has listed Avianca Holdings’ ADRs since the 8th of this month.
On May 26, Latam was notified by telephone and by letter about the stock exchange’s intention to initiate a process of deletion of registration of its securities.
The company had until June 9 to contact the New York Stock Exchange and request a review of Nyse’s decision. But Latam did not make the request.
It would be recalled that LATAM was delisted when it told the NYSE that it will not contest the delisting process. Earlier today, we announced that LATAM will be relisted under the ticker LATAQ.