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Titan Cement International N.V. ( (TTCIF) ) has shared an update.
Titan Cement International S.A. has announced the launch of an initial public offering (IPO) for its subsidiary, Titan America S.A., to issue 24 million ordinary shares. The IPO is aimed at raising capital by issuing 9 million new shares and selling 15 million existing shares, with a price range set between 15 to 18 U.S. dollars per share. Titan America plans to list its shares on the New York Stock Exchange under the symbol ‘TTAM’. This move is expected to strengthen Titan America’s market presence in the U.S. while maintaining a significant shareholding by Titan Cement International, potentially impacting its growth strategy and stakeholder interests in the competitive building materials industry.
More about Titan Cement International N.V.
Titan America is a leading and fully integrated company operating in high economic growth mega-regions along the east coast of the United States, with significant market positions in Florida, the Mid-Atlantic, and the Metro New York/New Jersey regions. The TITAN Group, its parent company, is an international leader in the building materials and infrastructure sector, with operations in more than 25 countries, including leading positions in the United States, Europe, and a joint venture in Brazil.
YTD Price Performance: 12.87%
Average Trading Volume: 107
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $3.61B
For detailed information about TTCIF stock, go to TipRanks’ Stock Analysis page.