Titan Cement International SA launched the process of introducing its subsidiary Titan America on the New York Stock Exchange, setting up to $ 3.3 billion.

In particular, Titan Cement International announced on Tuesday that its Belgian subsidiary, Titan America SA – a Metric Company of the Group’s activities in the US – has launched a roadshow in terms of an initial public offer (“IPO”) 24,000,000 shares.

The public offer consists of 9,000,000 new shares to be issued and sold by Titan America and from 15,000,000 existing shares to be sold by Titan Cement International SA

Titan Cement International SA expects to give the contractors a 30 -day option for the additional purchase of 3,600,000 shares in the event of over -cover.

The proposed price per share is expected to be ranging between $ 15 and $ 18. If the proposed price locks at $ 18, Titan America’s valuation could reach up to $ 3.3 billion.

Titan America has applied for the introduction of its joint shares to be traded on the New York Stock Exchange with the “Tam” symbol.

After completing the public offer, Titan Cement International SA is expected to hold 160,362,465 shares of Titan America, which account for 87% of all common shares in circulation (or 85% of the total. right of option).

Citigroup and Goldman Sachs & Co. LLC (based on alphabetical series) act as key coordinators of the proposed offer, while Bofa Securities, BNP Paribas, Jefferies, HSBC, Societe Generale and Stifel act as administrators of the proposed bid. The offer will take place only through a newsletter (“Prospectus”) in accordance with the 1933 US Mobile Values ​​Act, as amended (“Securities Act”). Copies of the preliminary newsletter, upon availability, can be obtained by Citigroup Global Markets Inc. At Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, New York 11717 or by phone at (800) 831-9146 or by Goldman Sachs & Co. LLC, Consider: Prospectus Department, 200 West Street, New York, New York 10282, by phone at (866) 471-2526 or by email at [email protected].

Request for registration on these mobile values ​​has been submitted to the US Securities and Exchange Commission (“SEC”) but has not yet come into force. The sale of these mobile values ​​or the acceptance of bids for their purchase is not allowed before the registration application enters into force.

History High Sales and Profitability for the Group and 2024

Meanwhile, in view of the launch of Roadshow for public bid in America of Titan America, Titan Cement International SA announced, according to current unified consolidated financial results, that the Group recorded a sales and profitable record in 2024, for one more year.

The strong results of 2024 are the result of higher volumes of sales in all basic products, fixed levels of prices, improved functional efficiency, increased use of alternative fuels and lower solid fuel costs.

More specifically, the group’s sales for 2024 They are expected to exceed € 2,640 million.while earnings before interest, tax and depreciation (EBITDA) are expected to exceed € 585 million. [σε συγκρίσιμη βάση*] or pre -adjustment of over € 570 million versus € 540 million in 2023.

Group’s net profits are estimated to be of € 300 million. [σε συγκρίσιμη βάση] or before adjusting € 285 million as a result of earnings per share are expected to range over € 3.8/share.

Net lending at the end of 2024 is expected to be less than € 630 million compared to € 660 million in December 2023, while the leverage/net lending ratio to EBITDA profits is expected to be reduced to about 1.1x.

The Titan Group will announce the audited financial results for the year 2024 on March 27, 2025, and a teleconference is scheduled for the same day.

*Comparable basis: Corrected pre -tax costs for non -repeated costs of approximately € 18 million related to the US import process and early retirement program in Greece.