Titan America, the parent company of the group's US operations, has launched a roadshow regarding an initial public offering of 24,000,000 common shares on the New York Stock Exchange.

The public offering 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 S.A. at a range of between $15 and $18 each. The goal is to raise $432 million in capital.

If the share price closes at the upper end of the range, i.e., $18, the valuation of the company may reach $3.31 billion.

Upon completion of the public offering, Titan Cement International S.A. is expected to own 160,362,465 shares of Titan America common stock, representing 87% of the total common stock outstanding (or 85% of the total if the underwriters exercise their options in full).