Liberty Latin America rights offering generates USD350m

29 Sep 2020

Regional telecoms group Liberty Latin America (LLA) has successfully concluded its recent rights offering, generating around USD350 million. The group received subscription requests (including oversubscription requests) in excess of 49,019,607 Class C common shares, at a price of USD7.14 per share. LLA shares are traded on the NASDAQ Global Select Market.

As previously reported by CommsUpdate, in August LLA stated that the funds generated by the rights offering will be used to bankroll its recently announced USD500 million acquisition of Telefonica Costa Rica (Movistar). The transaction is subject to certain customary closing conditions, including regulatory approvals, and is expected to close in the first half of 2021.

United States, Liberty Latin America (LLA), Telefonica Costa Rica (Movistar)