Titan America announces launch of initial public offering
Published by Alfie Lloyd-Perks,
Editorial Assistant
World Cement,
Titan Cement International S.A. announce that its Belgian subsidiary, Titan America SA, has launched a roadshow for an initial public offering (“IPO”) of 24 000 000 common shares.
The IPO consists of 9 000 000 new common shares to be issued and sold by Titan America and 15 000 000 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 3 600 000 common shares to cover over-allotments, if any. The IPO is currently expected to price between US$15 and US$18 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 (in alphabetical order) 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.
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Read the article online at: https://www.worldcement.com/the-americas/29012025/titan-america-announces-launch-of-initial-public-offering/
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