Titan Cement International has announced its intention to proceed with the IPO of its US business (Titan America), with the aim of raising funds that will facilitate the group’s and Titan America’s future growth. Titan America, a US$1.6bn sales business, is a leading and fully integrated player in the high-growth economic regions of the US East Coast, with operations and leading market positions across Florida, the Mid-Atlantic, and Metro New York/New Jersey.
According to the company, the listing is anticipated to take place on a stock exchange in New York and will be accompanied by an IPO of a minority stake, consistent with the typical percentage of company stock sold in US IPOs, without creating any incremental tax burden. The transaction is expected to be completed in early 2025.
