July 18 (Reuters) - LATAM Airlines is preparing

to list its shares on the New York Stock Exchange in a move that

could fetch it a valuation of $8.5 billion, the company said on

Thursday.

The Santiago, Chile-based carrier could raise over $533

million for its selling shareholders if it were to sell shares

at a price near its last close on the Chilean stock exchanges,

where they are already listed.

Companies based outside the U.S. often seek a New York

listing to command a richer valuation and access a deeper pool

of capital.

LATAM Airlines' listing, however, would come at a time when

shares of some newly listed firms have stumbled, undermining the

recovery in initial public offerings (IPOs) seen this year.

The company traces its origins to as far back as 1929 and

has a significant presence in South America, including in

Santiago and Sao Paulo.

It went bankrupt in 2020 as the COVID-19 pandemic hammered

travel demand, but emerged from bankruptcy two years later.

The company's shareholders plan to sell 19 million American

Depositary Shares (ADSs), which would be listed under the symbol

"LTM." It would not receive any proceeds from the share sale.

Goldman Sachs, Barclays and J.P. Morgan are the global

coordinators for the listing, LATAM Airlines said.