Titan Cement International SA announced today that its Belgian subsidiary, Titan America SA, a parent company of the Group’s activities in the US, has set a $ 16.00 per share price for the 24,000,000 joint shares of its original public offering ( ‘Ipo’).

The Public Offer (“IPO”) consists of 9,000,000 new shares to be issued and sold by Titan America and 15,000,000 existing shares to be sold by Titan Cement International SA. The Titan Cement International SA has granted the contractors to a 30 -day option to purchase an additional 3,600,000 shares, in the event of over -cover, to the price of the original public offer after deduction of fostering supplies.

Titan America’s joint shares are expected to start trading on the New York Stock Exchange with the “TTAM” symbol on February 7, 2025.

The offer is expected to be completed on February 10, 2025 and is subject to the filling of the commonly accepted closing terms.

Titan America expects to raise $ 136.800,000 US after deducting contractors’ supplies, which will be allocated for investment costs and other general corporate purposes, including investment funding in Titan America’s technologies and growth strategies. And for the pursuit of strategic acquisitions that complement Titan America’s business.

Titan Cement International SA expects to raise $ 228,000,000 US after removing contractors’ supplies.

After completion of 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 (or 156,762,465 shares representing 85% of the all of the joint shares in circulation, provided that the contractors will fully exercise the right of their option).

Citigroup and Goldman Sachs & Co. LLC act as key coordinators of the proposed offer. Bofa Securities, BNP Paribas, Jefferies, HSBC, Societe Generale and Stifel act as administrators of the original public offer.