Cement producer Titan America seeks up to $3.3 | finance news
(Reuters) – Titan America is searching for a valuation of up to $3.32 billion in its New York initial public offering, the Belgium-based cement producer stated on Tuesday.
The IPO comes as European corporations more and more look to record their U.S. models in New York in search of deeper capital markets, increased valuations, and a wider investor base.
Titan Cement Worldwide final yr introduced its intention to carve-out its U.S. business and record the unit in New York in early 2025 to raise funds for growth.
The unit is offering 9 million shares, whereas mum or dad Titan Cement is promoting 15 million shares priced between $15 and $18 every to raise up to $432 million.
Citigroup and Goldman Sachs are the lead underwriters for the offering.
Titan America will record on the New York Inventory Trade below the image “TTAM.”
(Reporting by Arasu Kannagi Basil in Bengaluru; Enhancing by Shinjini Ganguli)
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