The executives of Titan are in New York, where the company was presented to foreign investors, funds and institutional investors. This is the IPO for Titan America, which, according to BnB Daily, by 19:00, was oversubscribed more than 5 times, and the shares to be offered are 13%-15% of the share capital. 

As a reminder, the IPO is for 24 million common shares. Titan Cement International S.A. expects to grant the underwriters a 30-day option to purchase an additional 3,600,000 common shares in the event of oversubscription.

RANGE OF DISTRIBUTION

The offering price is expected to range between $15 and $18 per share, with many seeing the price closing in the upper range. Between 13% and 15% of Titan America's shares will be listed on the US stock exchange, as Titan Cement will retain 87% of the shares, or 85% if the underwriters exercise their option to purchase the shares. If the price closes in the upper range, then the company's valuation will exceed $3.3 billion.

HISTORICAL HIGH

At the same time, as the company recently announced, Titan Group's sales and profitability for 2024 moved to an all-time high, according to preliminary unaudited financial results. 

DATA GROUP 2024 (in €)

Sales: >2.64 billion.
EBITDA (on a comparable basis): >585 million.
Profitability (on a comparable basis): €585.5 million; profitability (on a comparable basis): €300 million.
Earnings per share: >3.8
Net debt: <630 mn