Titan America (TTAM.US) makes its debut on the US stock market, opening with a slight increase in share price.

Titan America (TTAM.US) made its US stock market debut on Friday, opening 0.3% higher at $16.04. The IPO price was $16. Titan America is a leading vertically integrated, cross-regional supplier of heavy construction materials and services, primarily operating on the East Coast of the United States. Its services cover core markets such as Florida, the New York-New Jersey metropolitan area, Virginia, North Carolina, and South Carolina. The company's manufacturing, logistics, and customer support network covers cement and complementary cement materials, aggregates, pre-mixed concrete, concrete bricks, and other related products. Titan America has over 100 facilities, including some of the largest cement plants in its core markets, import terminals, quarries, pre-mixed concrete plants, fly ash processing plants, and concrete brick production lines. Currently, Titan America's cement plants produce approximately 3.8 million tons of cement annually, supported by its mining network as a raw material supply. As of May 1, 2024, the company's total reserves in its mines amount to 474 million tons, ensuring its long-term stable production supply. Titan America's IPO was underwritten by J.P. Morgan, Citigroup, and BofA Securities. The company plans to use the proceeds from the IPO to fund its growth initiatives, including expanding its manufacturing and logistics capabilities, investing in new technologies, and enhancing its customer support network.