Titan America Files for IPO on NYSE

Titan America, a subsidiary of Titan Cement International, has filed for an initial public offering (IPO) with the SEC to list its shares on the New York Stock Exchange under the ticker symbol 'TTAM'. The IPO will include both primary offerings by Titan America and secondary sales by its parent company. With expected proceeds of up to $500 million, Titan America reported significant growth, with revenues rising from $539 million in 2013 to $1.6 billion in 2023, alongside a net income increase to $155.2 million. The company operates primarily on the Eastern Seaboard of the U.S., specializing in heavy building materials and services. Citigroup and Goldman Sachs are leading the offering, with additional support from several other financial institutions. Details on the number of shares and pricing will be disclosed in future filings as the marketing process begins.