LAN Peru seeking to list on Lima's Stock Exchange but new capital gains tax a concern
LAN Peru President, Emilio Rodriguez, stated the carrier wants to list shares on Lima's Stock Exchange and put up to 20% of all shares for sale to domestic investors (Reuters/Andina, 18-Mar-2010). However, he added that the plans have been affected by a new capital gains tax of 30% that Congress approved in Dec-2009.
LAN Peru: "As President of the LAN Peru board, I have made moves so that our main company can list on the Lima exchange, but the adoption of the capital gains tax was unexpected. Right now, we are trying to see how foreign issuers in Peru can have a better context in which to list, and we hope to see a positive result soon...We are very interested in LAN Chile being 15 or 20 percent owned by Peruvians, and not just Peruvian pension funds, but all kinds of investors," Emilio Rodriguez, President. Source: Reuters/Andina, 18-Mar-2010.