LAN Raises $181m Via New Share Offering

Chilean air carrier Lan raised $181.16m via the sale of 11.24 million new shares on Friday, according to the Santiago Stock Exchange. The shares were priced at 8,401.00 pesos ($16.24) or $80.56 per ADS, better than originally expected. The increase in its share capital will be used to fund LAN’s expansion plans over the next four years, which have an estimated cost of around $1.8 billion. The airline has units in Chile, Argentina, Ecuador and Peru.