Titan Cement Titan America has filed for IPO
Titan America, subsidiary of Titan Cement International, has filed a registration statement on Form F-1 with the United States Securities and Exchange Commission (SEC). Titan America has applied to list its common shares on the New York Stock Exchange under the ticker symbol “TTAM.” The IPO is planned to consist of a primary offering by Titan America, as well as a secondary sale by Titan Cement International SA. We welcome this news and expect to Titan America to be listed on the NYSE by the end of 1Q FY25, which we believe will unlock additional shareholder value while also significantly increasing the stock's liquidity. We reiterate our BUY rating and €45.0 TP.Titan Cement International SA is a Belgium-based international cement and building material producer. The Company's activities include the production, transportation, and distribution of cement, concrete, aggregates, fly ash, mortars and other building materials. The Company reports its activities into four geographical business segments: Greece and Western Europe, North America, South East Europe and Eastern Mediterranean. Apart from the transportation and distribution, the Company also transfers its know-how through collaborations with customers, business partners, local communities and Academia.
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