Shares of Titan America (TTAM), a Belgium-based cement producer, soared 6.13% in their debut on the New York Stock Exchange on Friday, closing at $17.02 per share. The successful initial public offering (IPO) raised $384 million and gave the company a market capitalization of nearly $3 billion.

The strong debut performance was driven by investor enthusiasm for Titan America's growth prospects and the company's plans to use the IPO proceeds for capital expenditures, technology investments, and potential acquisitions. Titan America operates in the rapidly growing construction markets of Florida and the mid-Atlantic region, and has reported double-digit annual revenue growth in recent years.

With a track record of profitability and a focus on expanding its footprint in key regions, Titan America positioned itself as an attractive investment opportunity in the cement and building materials sector. The company's IPO was well-received, with shares opening at $16.20, slightly above the $16 IPO price.