Titan America Announces Pricing of Initial Public Offering

Titan Cement International SA ( Euronext Brussels, Euronext Paris, ATHEX), today announced that its Belgian subsidiary, Titan America SA (“Titan America”), parent of its U.S. operations, has priced its initial public offering (“IPO”) of 24,000,000 common shares at a price to the public of $16.00 per share. 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 has granted the underwriters a 30-day option to purchase up to an additional 3,600,000 common shares to cover over-allotments, if any, at the initial public offering price, less underwriting discounts and commissions. Titan America’s common shares are expected to begin trading on the New York Stock Exchange under the ticker symbol “TTAM” on February 7, 2025. The offering is expected to close on February 10, 2025, subject to the satisfaction of customary closing conditions.

Titan America expects to receive net proceeds of approximately $136,800,000, after deducting underwriting discounts and commissions, which will be used for capital expenditures and other general corporate purposes, including to fund investments in technologies and Titan America’s growth strategies and to pursue strategic acquisitions that complement Titan America’s business.

Titan Cement International SA expects to receive net proceeds of approximately $228,000,000, after deducting underwriting discounts and commissions.

​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 156,762,465 common shares, representing 85% of the total outstanding common shares, 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 IPO.