![Titan Cement: Road Towards IPO for Titan America on NYSE](https://www.ot.gr/wp-content/uploads/2025/01/titan.jpg)
Titan America SA, a subsidiary of Titan Cement International SA and the parent company of its operations in the United States, on Tuesday launched a roadshow for its initial public offering (IPO) of 24 million common shares.
The IPO consists of nine million new common shares to be issued and sold by Titan America and 15 million existing common shares to be sold by Titan Cement International SA.
Titan Cement International SA expects to grant the underwriters a 30-day option to purchase an additional 3.6 million common shares to cover over-allotments, if any.
The IPO is currently expected to price between 15 USD and 18 USD per share. Titan America has applied to list its common shares on the New York Stock Exchange under the ticker symbol “TTAM.”
After the completion of the IPO, Titan Cement International SA is expected to own 160,362,465 common shares of Titan America, representing 87% of the total outstanding common shares – or 85% if the underwriters exercise in full their over-allotment option.
Citigroup and Goldman Sachs & Co. LLC are acting as joint lead book-running managers for the IPO. BofA Securities, BNP Paribas, Jefferies, HSBC, Societe Generale and Stifel are acting as bookrunners for the proposed offering.
Source: tovima.com
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