Titan America in $384 Million IPO

Cleary Gottlieb is representing Titan America SA (Titan America) and its parent company and sole shareholder, Titan Cement International SA (Titan Cement International), in its $384 million initial public offering.

Titan America is offering 9 million of its common shares and Titan Cement International, as the sole selling shareholder, is offering 15 million common shares of Titan America at an initial offering price of $16 per share. Titan Cement International has also granted the underwriters an option to purchase up to an additional 3.6 million common shares of Titan America.

The offering priced on February 6, 2025, and is expected to close on February 10, 2025, subject to customary closing conditions. Titan America’s common shares will begin trading on the New York Stock Exchange on February 7, 2025, under the ticker symbol “TTAM.”

Citigroup and Goldman Sachs & Co. LLC are acting as joint bookrunning managers for the proposed offering. BofA Securities, BNP Paribas, Jefferies, HSBC, SOCIETE GENERALE, and Stifel are acting as bookrunners for the proposed offering.

Titan America is a leading heavy building materials producer in the Eastern United States. Titan America and its subsidiary companies produce cement, aggregates, ready mixed concrete, concrete block, and beneficiated fly ash. Titan America is a member of TITAN Cement Group, an international cement and building materials producer.

TITAN Group is a leading international business in the building and infrastructure materials industry. With most of its activity in the developed markets, the group employs over 5,700 people and is present in over 25 countries, holding prominent positions in the United States, Europe, and a joint venture in Brazil. Titan Cement International is listed on Euronext in Brussels and Paris and at the Athens Exchange.

For more information, please see the press release.