The actions of LATAM Airlines, the largest air transport group in Latin America, collapsed on the Chilean stock exchange on Monday after the announcement over the weekend of a reorganization plan that would dilute the company’s current capital.
At 9:40 a.m. local time (12:40 GMT), the firm’s shares fell 84.54% to 145.01 Chilean pesos.
On Friday, the firm presented its restructuring plan to a court in New York, which includes the injection of 8.19 billion dollars and would include a dilution of the current share capital of 99.9 percent.
Reference-www.eleconomista.com.mx