Titan America Seeks $3.32 Billion Valuation in NY IPO
Titan America, a Belgian-based cement producer, is seeking a valuation of up to $3.32 billion in its upcoming initial public offering (IPO) on the New York Stock Exchange.
European companies have increasingly turned to New York for IPOs, lured by deeper capital markets, higher valuations, and a broader investor base. Titan Cement International announced plans in 2022 to spin off its U.S. unit and list it in New York to raise funds for expansion.
Titan America will offer 9 million shares, while its parent company, Titan Cement, will sell 15 million shares priced between $15 and $18 each. The offering is expected to raise up to $432 million.
Citigroup and Goldman Sachs are acting as lead underwriters for the IPO. Titan America is expected to trade under the ticker symbol "TTAM" on the NYSE.