The IPO 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 SA. Titan Cement International SA expects to grant the underwriters a 30-day option to purchase an additional 3,600,000 common shares to cover over-allotments, if any.
The IPO is currently expected to price between $15 and $18 per share. Titan America has applied to list its common shares on the New York Stock Exchange under the ticker symbol “TTAM.”
After the completion of the IPO, Titan Cement International SA is expected to own 160,362,465 common shares of Titan America, representing 87% of the total outstanding common shares (or 85% if the underwriters exercise in full their over-allotment option). Citigroup and Goldman Sachs & Co. LLC (in alphabetical order) are acting as joint lead book-running managers for the IPO.
BofA Securities, BNP Paribas, Jefferies, HSBC, Societe Generale and Stifel are acting as bookrunners for the proposed offering.
The offering will be made only by means of a prospectus under the United States Securities Act of 1933, as amended. Copies of the preliminary prospectus, when available, may be obtained from: Citigroup Global Markets Inc. at Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717, or by telephone at (800) 831-9146; or Goldman Sachs & Co. LLC Attention: Prospectus Department, 200 West Street, New York, New York 10282, by telephone at (866) 471-2526, or by e-mail at Prospectus-ny@ny.email.gs.com.
A registration statement relating to these securities was filed with the SEC but has not yet become effective. These securities may not be sold, nor may offers to buy be accepted, prior to the time the registration statement becomes effective
