Titan parent follows Argos, CRH, Holcim path to Wall Street listing

Sources: Titan Cement International S.A., Brussels; CP staff

Titan Florida Pennsuco plant.
U.S. cement production assets’ appeal to investors is informing multinationals’ Wall Street focus.

Euronext Brussels-traded Titan Cement International has informed investors of an initial public offering of shares in Virginia-based Titan America, which reported $1.6 billion in 2023 cement, supplementary cementitious material, aggregate and ready mixed concrete sales across coastal Mid-Atlantic and Southeast operations. With a projected early-2025 completion on a Wall Street exchange, the IPO would span a sizable Titan America stake and raise funds facilitating future growth for businesses on both sides of the Atlantic.

Titan Cement’s Wall Street listing pursuit follows similar action by Cementos Argos S.A., CRH Plc and Holcim Ltd. Ahead of the January 2024 Argos North America Corp. and Summit Materials Inc. merger, valued at $3.2 billion, Colombia-based Argos had planned a U.S. exchange listing for its cement, aggregate and concrete businesses in Mid-Atlantic, South and Southwest markets. CRH moved its primary listing from the London Stock Exchange to the New York Stock Exchange in September 2023. Earlier this year, Holcim outlined a plan effectively spinning off the combined  Holcim US and Lafarge Canada businesses, with the newly designated Holcim North America entity set for its own NYSE listing next year.