** Shares of cement producer Titan America TTAM.N set to open up to 12.5% above their offer price in their New York Stock Exchange debut
** Stock indicated to open in the range of $16 to $18 vs $16 IPO price
** TTAM, along with its parent Titan Cement International TITC.BR, raised $384 mln by selling 24 mln shares within the marketed range of $15 to $18
** At the IPO price, TTAM was valued at $2.95 bln
** Listing comes as a wave of companies look to go public in New York before the IPO market hits the seasonal February lull
** Q3 financial statements go stale, or become too old to be used in a prospectus, on Feb. 14, needing issuers to finalize audited year-end numbers before they can go public
** TTAM supplies heavy building materials and services in the eastern region of the United States
** Citigroup and Goldman Sachs were the lead underwriters
** TTAM plans to use the IPO proceeds for capex expenditures and other purposes, including technology investments and potential acquisitions
(Reporting by Arasu Kannagi Basil in Bengaluru)
((ArasuKannagi.Basil@thomsonreuters.com;))
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