The IPO consists of 9,000,000 new common shares issued and sold by Titan America SA and 15,000,000 existing common shares sold by its parent company, Titan Cement International SA. The group of Underwriters consisted of Citigroup Global Markets Inc., Goldman Sachs & Co. LLC (joint book-running managers), BofA Securities, Inc., BNP Paribas Securities Corp., Jefferies LLC, HSBC Securities (USA) Inc., SG Americas Securities LLC and Stifel, Nicolaus & Company, Incorporated.
Titan America SA received net proceeds of approximately $136,800,000 million, after deducting underwriting discounts and commissions, which will be used for capital expenditures and other general corporate purposes, including to fund investments in technologies and Titan America SA’s growth strategies and to pursue strategic acquisitions that complement Titan America SA’s business. Titan Cement International SA received net proceeds of approximately $228,000,000, after deducting underwriting discounts and commissions. As of the closing of the IPO, Titan Cement International SA owns 160,362,465 common shares of Titan America SA, representing approximately 87% of the total outstanding common shares.
The NautaDutilh team consisted of @Philippe (P.) Remels, @Lentle (L.) Nijs and @Don (D.) Baudewyns
Media links
- Griekse Brusselaar Titan Cement trapt Wall Street-IPO Amerikaanse dochter af | [De Tijd]
- Titan America Announces Closing of Initial Public Offering | Business Wire
- Cement producer Titan America raises $384 million in US IPO | Reuters
