Titan America Launches Roadshow for IPO of 24 Million Shares

09:46 29/1/2025 - Πηγή: iEfimerida

Titan America SA, a subsidiary of Titan Cement International SA and the parent company overseeing its U.S. operations, announced Tuesday the launch of its roadshow for an initial public offering (IPO) of 24 million common shares.

The offering includes nine million newly issued shares to be sold by Titan America and 15 million existing shares to be sold by Titan

Cement International SA. Additionally, Titan Cement International SA plans to grant underwriters a 30-day option to purchase up to 3.6 million extra shares to cover potential over-allotments.

The IPO is expected to price between $15 and $18 per share. Titan America has applied to list its shares on the New York Stock Exchange under the ticker symbol “TTAM.”

Upon the IPO's completion, Titan Cement International SA will retain ownership of approximately 160.36 million common shares of Titan America, representing an 87% stake in the company.

This stake could be reduced to 85% if underwriters fully exercise their over-allotment option.

Citigroup and Goldman Sachs & Co. LLC are leading the IPO as joint book-running managers. Other participating bookrunners include BofA Securities, BNP Paribas, Jefferies, HSBC, Societe Generale, and Stifel.

This move marks a significant step for Titan America as it seeks to capitalize on its position in the U.S. market through increased visibility and access to capital via its NYSE listing.

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